Is a bid legally binding?

A submitted bid is an offer, and in many public projects it cannot be withdrawn after bids open. Once accepted and signed, it becomes the contract price. Check the bid documents for the rules on each job.

Do remodelers send bids or proposals?

Residential remodelers usually send a proposal to the homeowner: the scope, price and terms in one document. Bid is more common in competitive commercial and GC work.

What is the difference between a bid, an estimate and a quote?

An estimate is your calculated cost to do the work. A bid is the formal price you submit to win a job, usually to a GC or owner in competitive work. A quote is a fixed price for a defined item, used mostly by suppliers and on small jobs. All three start from a takeoff.

Worked example

A concrete sub pricing a 20 x 24 ft slab for a GC.

1.Takeoff: 480 sq ft at 4 in = 5.93 cu yd, 6.5 cu yd with 10 percent over-order
2.Quote: the ready-mix supplier quotes the 6.5 cu yd delivered
3.Estimate: the sub adds forms, rebar, labor and pump to the supplier quote
4.Bid: the sub submits a price to the GC built from the estimate

One takeoff feeds the supplier quote, the estimate and the bid.

Measure it in MetreMate

MetreMate gives you the measured quantities. Build your estimate, bid or quote from them in the tool you already use for pricing.

See the Measure Tools feature

Related terms

Frequently asked questions

Back to the construction takeoff glossary

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