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How can I run a best and final round of bidding in Portfolio Financials?

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 Note
This information is intended for accounts with Portfolio Financials product in Procore. Please reach out to your Procore point of contact for more information. 

Background

If you are looking to run a best and final round of bidding with a subset of your original bid group, the "freeze bidder" feature in Portfolio Financials is a great way to seamlessly narrow the field and allow you to execute multiple rounds of bidding. See Freeze or Unfreeze a Bidder in a Bid Room.

When you freeze a bidder, they will no longer be able to submit bids and will not see or be notified about any future bid form revisions, bid due date updates, and document uploads. All communication and previous bid submissions are preserved and remain accessible for you. 

Answer

Follow the steps below:

  1. Freeze the bidders you do not want to have in this round of bidding. See Freeze a Bidder in a Bid Room.
  2. After you have eliminated the bidders that will not be participating in the best and final round, update the bid due date in the 'Schedule' section of the bid form to let the final bidders know when you expect to receive their revisions.

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  3. If there are new or updated drawings, specifications, or other documentation, upload them to the Documents section of your Bid Room.
  4. Optional: You can revise and republish the bid form to request further detail or pricing on additional items. See Edit a Bid Form for a Bid Room.
  5. Optional: Use the Send Message feature in the Bid Room to provide further clarification to the remaining bidders if necessary.

See Also

  • Award a Bid in the Bid Room