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hello and welcome to this presentation on construction contracts and delivery methods presented by tech training llc [Music] lets start by discussing a little bit about bidding realistically all bidding procedures come down to one of two processes its either going to be a negotiated bid or a competitive bid competitive bidding is what we are all familiar with this is when an owner or the owners representative asks for bids on a proposed project typically the bid will be reviewed based on the lump sum price submitted by the contractor in this type of bid the lowest qualified bidder will be awarded the project we emphasize qualified as they must also meet other criteria as an example they must be able to obtain the appropriate bonds and insurance for the project however there are cases where the contract may be awarded based on other criteria when the contract will be awarded based on other criteria the price may remain out of view until the other criteria have been rated this is done