Invitation to Bid
Invitation to Bid (ITB) definition. Learn how owners notify selected contractors that they are eligible to submit a bid on a new project.
Calculation Formula
ITB = Notification of Opportunity + Project Highlights Real Contractor Example
A developer sends an ITB via email to five trusted GCs for a new apartment complex, including a link to the plan room.
Put This Into Practice
Knowing the definition is step one. RemodelFin tracks this in real time on every job — no spreadsheets.