Low Bidder
Low bidder definition. Understand the importance and risks of being the contractor with the cheapest price on bid day.
Calculation Formula
Low Bid = Min(Bid_1, Bid_2, ... Bid_n) Real Contractor Example
At a public bid opening, Contractor A is $10k lower than the next closest bidder. They are declared the apparent low bidder pending review.
Put This Into Practice
Knowing the definition is step one. RemodelFin tracks this in real time on every job — no spreadsheets.