Government contracting is a little different from other kinds of business. Here are some of the terms you may encounter when doing business with Saint Paul.
- Advertisement: The City’s public announcement of goods or services that we want to buy.
- Award: The City’s agreement to contract with a business. When we agree on a certain purchase, we “award a contract.”
- Bid: An offer to sell something for a fee.
- Bid bond: A legal guarantee that a business will honor the terms of its bid if the City awards it a contract.
- Event: A procurement event — that is, a specific opportunity to do business with the City. Businesses “respond to an event” by submitting bids or proposals.
- Procurement: The process of finding, selecting, paying for, and taking care of goods and services.
- Proposal: An offer to provide a service for a fee.
- Solicitation: The City’s public request for bids or proposals.
- Supplier: A business that is registered to do business with the City.
- Tabulations: A public record of bids the City has received in response to a solicitation.
- Vendor: A supplier who is being paid by the City.