Base Bid – the worksheet in the Bidding status where a GC can define cost items, expense types, prepare nested assembly takeoffs, and add the scope of work (bid notes) for individual cost items
Bid Due Date - Project – the date the GC’s proposal is due to the project Owner.
Bid Due Date - Subcontractor – the date the bid quote is due from the Subcontractor to the GC.
Bid Day Reminder – a note on the Estimate Base Bid page that can be added by the GC to themselves that will not be shown to bidders. These notes will show on the Bid Quote Take-Off Report.
Bid Invitation – a Notification email that is sent out to Subcontractors that includes a link to the online plan room (drawings, specifications, and addenda). Once the Subcontractor has reviewed the Online Plan room, they can click the Submit Bid button to submit their bid on a project to the GC.
Bid Invitation Filters – bid invitation filters can be set by Sub Ranking, Tags, Others (Union, Minority, DBE, Veteran, Small Business and Hub Zone), Zip code and Radius.
Bid Notes – bid/trade specific notes (instructions) that are created for Subcontractors on the Estimate Base Bid page by hovering over the Notebook icon. Bid notes can be saved as a default for use on this and future projects.
Bid Quote – a formal offer by a contractor, in accordance with specifications for a project, to do all or a phase of the work at a certain price in accordance with the terms and conditions stated in the offer. You can access bid quotes on the Estimate Base Bid by hovering over a cost code and clicking the gavel icon. You can also access Bid Quote by going to Filing Cabinet > Bid Quotes > View Bid Quotes.
Bidding – these are jobs the GC is actively bidding. In this phase, the GC populates the plan room, invites bidders, and puts together their estimate and proposal package to the Owner.
Budget - Original – shows the bid amount without tax, labor burden, or general liability and drops the total tax, labor burden and general liability into General Costs.
Budget - Progress – shows the variances of the budget report for real time tracking of subcontracts, change orders and purchase orders.
Build Schedule – Functions include: Selecting Cost codes as tasks, schedule order dates for material items, create custom (non-cost coded) tasks, and create child tasks.
Buy Out – the amount that the GC intends to spend which may differ from the amount in the original Budget that is presented to the Owner.