10 Useful Bid Summary Templates

Dec 13, 2017

Are you looking for a way to formally write and/or tabulate a bid or proposal you are making for work, school, or the community, but you do not know how or where to begin? If yes, you do not need to worry. You most likely just need to create a bid summary and all your documentation woes will go away. So, let us help you with that. In this article, we provide information on what a bid summary is and how you can create one using the different bid summary templates we have listed here.

What is a bid summary?

Bids, proposals, pitches, and offers are all synonymous words referring to the act of presenting a plan of action in order to meet a certain goal. In some industries, these “plans” need to be translated into the written word to formalize the entire process.

In this case, a bid summary is a document that contains proposals or resource allocation suggestions for a specific event, project, work order, or object. The more comprehensive a bid summary is, the more complicated the document will look like at first glance. An all-inclusive bid summary will include both paragraphs of text, graphs, tables, and even illustrations. Therefore, bid summaries may also be called proposal plans, proposal summaries, or tenders depending on the industry they are used in.

Information to include in a bid summary

• Company or business profile (if allowed)
• List of past successful projects (if allowed)
• Detailed information or plan on how to complete a project
• Bond money (if required)
• Proposed budget
• Proposed contract completion dates
• Signatures of the company or business head
• Exact amount of the bid (if bidding for an object, property, service, etc.)
• Other information required by that specific bid opening

Embedded below are 10 examples of bid summary templates. All of them are printable templates that you can easily download for free. Consider them as guides when you create a bid summary template for your own organization.

Bid Tab and Summary Template

ctconsultants.com

Blank Bid Summary Template

epa.state.il.us

Contract Bid Summary Template

whsd1.org

Food Service Bid Summary Template

district205.net

Food Service Bid Summary

whsd1.org

Government Bid Summary Template

propertibazar.com

Informal Bid Summary Sheet

etsu.edu

Simple Bid Summary Template

agriculture.ny.gov

Transportation Service Bid Summary Template

icgov.org

University Bid Summary Template

luc.edu

How to write effective bid summary templates

To write an effective bid summary, you need to take note of the following general guidelines:

• Consider the type of industry the bid summary will be used in. One common application of bid summaries occurs in different branches of the government. For example, if your town needs to acquire two garbage trucks to help with waste disposal, your town council first needs to ask for bids from different garbage truck manufacturers. These bids will include information on the specific type, model, capabilities, cost, payment plans, etc. about the garbage truck that a manufacturer sells. Usually, after the council deliberates and weighs in on all factors, the lowest bid will get the contract. This means that the winning bidder will be the official provider for the garbage truck project. If you are tasked to create a bid summary for this bidding project, you will need to collect information on the different bids from different manufacturers. Also, if you are part of the truck manufacturer’s management team, you may be asked to submit a bid summary yourself. Your bid summary will contain the most basic information about your offer. You will need to make sure that this bid summary contains accurate information while being an engaging read at the same time.

• Learn more about your competitors so that you will know where to improve your own bid summary or proposal. This guideline in bid summary writing is meant to encourage bidders to learn healthy competitive skills. Whether you are bidding for a government project or a website creation position, you need to know how your competition behaves. This way, you will learn how to do things better than them. And, ultimately, you will get that coveted project contract. You may then organize what you have learned about your competitors by using a bid sheet.

• Include your organization or department letterhead on the document. Most bid summaries are created by and for government offices or different business organizations. When creating them, always make sure to include your organization’s logo design, seal, or letterhead. Doing this lends credibility and formality to the entire transaction. It also helps spread your organization’s brand identity and recognizability. In some cases, bidders for government contracts may not be allowed to provide business information on their bid proposals. If this happens, make sure to follow the rules of the bidding committee as failure to comply may disqualify you from bidding for the project.

• Make sure that your bid summary complements your executive summary. In some industries (like presenting a project proposal to another company), the bidder may be asked to create a more thorough executive summary, and a component of this document is the bid summary. Your bid summary should coincide with what was written in the executive summary. Most company executives may only skim through the executive summary portion and pay more attention to the bid summary or vice versa. So, it is best to make sure that these two sections of a proposal should say the same thing.

• Verify all information indicated on the bid summary. As mentioned earlier, bid summaries are commonly used when dealing with government projects. In these scenarios, a bid summary document is also considered as legal and binding. That is also why there are strict rules surrounding these processes. To avoid auditing issues and to help your company get that coveted government contract, make sure to verify all the information (i.e. price list, contractor proposal terms, contract dates, contractor names, etc.) before finalizing the document.

• Ask your superiors or managers to review and sign the bid summary before submitting the document. Remember, bid summaries may be considered legal and binding in most contracted project proposals. That is why you must ask your direct supervisor or manager to review the document, make any changes, or even consult with your legal department before finalizing the document. In some cases, the head bidder’s signature will also be required for the document to be considered formal and legal.

The most important thing to remember about writing bid summaries is to make them easy to read. The more technical aspects of your bid or proposal are usually evaluated by subject matter experts, but bid summaries are read by the executives and decision-makers of the company. So, it is vital to highlight the benefits that you can offer them not just from a technical standpoint, but also from a business or profit view. When you can make these decision-makers see that you are the best option, then you can be sure of success.

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