We suggest a better method of getting the competitive bidding process to yield the lowest fair bid is to first advise each contractor that you are considering that they are amongst the final contractors for the project. We suggest limiting this group of finalists to two or at most three. Next, you can suggest that you will accept a revised bid if they wish before making your final decision. This makes it clear to each contractor that they now have the opportunity to lower their bid just once if they wish. Some contractors may ask you if there is a specific amount they need to reduce their bid in order to win the project. You can choose to answer this question with a specific number if you really like this contractor and want to award the project to them if their cost was right or you may simply advise them to provide you with their best cost and you will complete your evaluation.
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