A competitive bid is a sealed offer, including price and terms, submitted by a contractor to a purchaser, who selects the bid with the best combination of price and terms. This system is widely used by municipalities, railroads, and public utilities.
A legal entity that has the power to issue and distribute securities. Issuers include corporations, municipalities, foreign and domestic governments and their agencies, and investment trusts. They are responsible for corporate reporting, paying dividends, and servicing debt.
