GMS 400 Lecture Notes - Lecture 8: Performance Bond
13 Apr 2017
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Lecture 8: business to business - bidding on. Ttc purchasing first subway cars: development of specifications, first create a potential bidders list - because you want the best companies to bid, sources of information (buyer & seller): Requirement for bid bond, performance bond, and/or service bond. Technical evaluation (bidders must be compliant with the technical specification or better) Financial evaluation (price and financing package that each bidder. International competitive bidding from the bidder"s perspective: attend trade fairs and trade missions: purchasers must know about your firm, convince purchaser to use your specs. Get there early in the development process. Bring them to your facilities so that they get to know you. Submit testimonials from previous buyers: ensure that you are on the pre-qualified list (with embassy assistance, if necessary, arrange sufficient and attractive financing. Blended credit if possible (some concessionary financing from cida or edc)
