The final stage of the bidding process - before the work actually starts - is the release of the awarded information. The awarded information will include pertinent bid information including who was awarded the contract, the duration of work and the amount that was awarded to the contractor. While it can be discouraging to find out your company was not awarded a particular contract, the awarded information can hold the key to future success the next time around.

Like bids, when a contract is awarded, the information is made public. This insures transparency between the government agency, the awarded vendor and the rest of the competition. In making the information public, vendors who fall short of the award are able to tailor their products or services to become more competitive the next time around. This insures a fair and balanced marketplace – and will diminish insider bidding. In short, public awarded information can level the playing field for all vendors, of any size or capability.

Once the bid is awarded, the information will recorded into what is called the “bid abstract.” A bid abstract will often times be place readily on the government agencies bid portal online. However, if it is not, the awarded information can be requested from the purchasing agent or agency and released to you.

Remember: Someone’s awarded bid information could be the key to your future success!