Selecting the Winning Bid

Selecting the Winning Bid

14Build enables clients to evaluate, compare, and award bids through a transparent and structured process. The platform ensures bids are assessed based on defined criteria such as cost, timeline, and previous project performance, simplifying tender management while ensuring fair competition.

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1. Bid Evaluation Criteria

When evaluating bids, clients can filter and compare proposals using multiple criteria:

Evaluation Criteria	Description
Cost/Price	Proposed total cost vs project budget.
Timeline/Duration	Proposed completion time.
Compliance with SOQ	Alignment with the project’s SOQ.
Previous Experience	Contractor’s work history and ratings.
Supporting Documents	Relevant qualifications, certifications, and work samples.

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2. Bid Comparison Dashboard

The Bid Comparison Dashboard displays all submitted bids, allowing clients to:

• View Key Details: Bid amount, timeline, project references, and relevant documents.
• Sort and Filter: Filter bids by cost, timeline, or bidder reputation.
• Bid Attachments: Access technical documents, blueprints, and certificates.

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Example Bid Evaluation Table

Bidder Name	Bid Amount	Timeline	Rating	Attachments
BuildCo Ltd	$150,000	6 months	4.8/5	[View Docs]
Structura Inc.	$140,000	7 months	4.7/5	[View Docs]
ConcreteMasters	$155,000	5 months	4.5/5	[View Docs]

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3. Step-by-Step Bid Evaluation Process

Step 1: Review Submitted Bids

1. Access the Tender Management Dashboard.
2. View All Bids Submitted for the specific tender.
3. Expand Each Bid to see cost breakdowns, timelines, and supporting files.

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Step 2: Compare and Shortlist Bids

1. Filter Bids: Use filters such as bid amount, project duration, or bidder rating.
2. Shortlist Contractors: Select the most relevant bids for detailed review.

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Step 3: Conduct Final Evaluation

• Cross-Check Compliance: Ensure submitted bids match the SOQ details.
• Review Supporting Documents: Evaluate technical proposals, certificates, and licenses.

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Step 4: Award the Winning Bid

1. Select the Best Bid from the comparison dashboard.
2. Initiate Approval Process: Approve the selected bid after internal review.
3. Confirm Award: Award the bid, triggering automatic escrow linking.

Example Bid Award Record:

{
  "tender_id": "tender-456",
  "awarded_bid": {
    "bid_id": "bid-789",
    "contractor_id": "user-56789",
    "amount": 150000,
    "timeline": "6 months",
    "approved_by": "user-12345",
    "approval_date": "2024-06-15T10:00:00Z"
  }
}

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4. Smart Contract Integration

Once the winning bid is awarded:

1. An escrow smart contract is created to secure project funds.
2. On-Chain Records: The awarded bid, contractor details, and project ID are recorded on the Stellar blockchain.
3. Notifications Sent: All participants (client and contractors) receive automated notifications.

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5. Notifications & Status Updates

After awarding the bid, notifications are sent to relevant parties:

Notification Type	Recipient	Message
Bid Award Notification	Winning Contractor	”Congratulations! Your bid has been approved.”
Tender Status Update	All Bidders	”The tender has been awarded to another contractor.”
Project Milestone Update	Project Team	”New project milestone created: Foundation Work.”

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6. Bid Selection Security Measures

1. Role-Based Access Control (RBAC): Only authorized clients and project managers can approve bids.
2. Audit Logs: Every bid evaluation and approval is logged and timestamped for auditability.
3. Stellar Blockchain Integration: Award records are stored immutably on the blockchain.
4. Data Encryption: Bids, attachments, and personal data are securely encrypted.

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7. Example Workflow Diagram

flowchart TD
A[Submitted Bids] --> B[Evaluate Bids]
B --> C{Criteria Check}
C -->|Meets Criteria| D[Shortlist Bids]
C -->|Fails Criteria| E[Reject Bid]
D --> F[Finalize Winner]
F --> G[Escrow Creation & Notifications]

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8. Summary

The Bid Selection Process in 14Build ensures:

• Transparent and data-driven bid evaluation.
• Secure escrow creation upon bid approval.
• Automatic notifications to contractors and project teams.
• Full auditability of bid selections and project awards.

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