In bidding, what do you mean by "failed bid" and "rejected bid"?

Bidding failure refers to the failure to close the contract because it does not meet the conditions of the tenderer.

In government procurement activities, if the number of responding suppliers is less than the specified number, and the parties have violated laws and regulations or other circumstances that may affect the results of government procurement or fair competition, the relevant parties will propose to terminate the government procurement activities and cancel the bid after being approved by the government procurement supervision and management department, which is called bid cancellation.

Extended data

Bidding is the abbreviation of bidding. Bidding is a kind of commodity trading behavior and two aspects of the trading process. Bidding is an international practice, a product of highly developed commodity economy, and an organized way to choose the best transaction by using technology, economic means and market economy competition mechanism.

In this way, the tenderer attracts many bidders to compete on an equal footing under the same conditions through the pre-announced procurement and requirements, and organizes experts in technology, economy and law to comprehensively evaluate many bidders according to the prescribed procedures, so as to select the winning bidder for the project. Its essence is to get the best goods, projects and services at a lower price.

References:

Baidu encyclopedia-bidding