Competitive Bid Option

Competitive bid option is basically the TV show Shark Tank as applied to a range of business offerings...from investment banking services for muni bond offerings to freeway construction projects post-damage from Sharknado 4: The Overpassing.

All four or five Sharks like the business presenting their product, and all the Sharks make individual offers to the business owner. The business owner chooses the Shark offering what she feels is the best deal. The winning Shark may sell off a portion of the final deal to one or more of the other Sharks. That's a competitive bid option.