A bidding system is a way of making offers or bids in a structured way to determine the price or outcome of something, like selling goods or services, or determining who gets a contract or an opportunity. Full definition
The low bid system is a false economy: what would contemporary dollars spent on these major repairs have been worth 30 years ago when these buildings were first constructed? (dotearth.blogs.nytimes.com)
When I make a bid on a house in a closed bidding system, I have certain expectations. (remonline.com)
As part of its activities, Kirsch stated that NESP supports the increase of clean and sustainable electricity production by incentivizing investments in renewable energy which includes the development of a modern and transparent bidding system for renewable energy projects, by bringing the Nigerian energy sector at par with countries like South Africa. (ghanapoliticsonline.com)