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10/03/2017Florida Department of Transportation Vendor Ranking Letting:06170831August 31, 2017 11:00 Rampage 1 of 1Call Order: 001Contract:District: District 6 Counties: MIA MIDADE Contract Time: 365

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How to fill out percent of low bid

01

Determine the total amount of bids received for the project.

02

Identify the lowest bid amount among all the received bids.

03

Calculate the percentage of the low bid by dividing the low bid amount by the total amount of bids received and multiplying by 100.

Who needs percent of low bid?

01

Contractors who want to understand how competitive their bid is compared to others.

02

Government agencies or organizations soliciting bids for projects in order to evaluate and select the best offer.

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What is percent of low bid?

Percent of low bid is the percentage difference between the lowest bid received and the next lowest bid in a bidding process.

Who is required to file percent of low bid?

The contractor or organization that submitted the low bid is required to file the percent of low bid.

How to fill out percent of low bid?

To fill out percent of low bid, the bidder must calculate the difference between their bid amount and the next lowest bid, then convert it to a percentage.

What is the purpose of percent of low bid?

The purpose of percent of low bid is to ensure transparency and fairness in the bidding process by showing the percentage difference between bids.

What information must be reported on percent of low bid?

The percent of low bid report must include the bidder's name, bid amount, percentage difference compared to the next lowest bid, and any relevant calculations.

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