Closing date

The date and time by which bids must arrive. Late bids are almost always rejected, even by a minute, so most firms submit a day early.

Also called: Deadline, Bid closing

Related terms

Addendum

A change to tender documents issued after the tender opens, such as a new deadline, answers to questions or revised requirements. Bidders are often asked to confirm they have read every addendum.

Clarification question

A question a bidder sends the buyer while a tender is open. Answers are usually shared with every bidder, without saying who asked.