Scout provides you with the option to set up a Sealed Bid Event (i.e. prevent bids from being opened before the final submission deadline). This is often a requirement for public and governmental institutions.
What are "Sealed Bids"?
Historically, a Sealed Bid process meant that all submissions must have been made in sealed envelope. This seal must have been maintained until relevant parties gathered together in a room and opened all sealed envelopes for each of the bids at the same time. This was done to ensure a fair bidding process.
Scout has functionality to mimic this process by keeping bids secret from the Buyer side until after the submission deadline. In Scout, having "Sealed Bids" means that Suppliers can submit their bids at any time, but you as the Buyer will not be able to open those bids until your Bid Submission Deadline passes.
How to Seal Bids
You can select to receive Sealed Bids when you are building your Event. The Sealed Bids option is located in the "Event Options" menu of Section 1, "Setup Your Event":
Click on "Event Options" to expand a menu of additional configurations, then select "Yes" from the Sealed Bids dropdown menu:
Note: Selecting yes here applies the Sealed Bids functionality across all bids. All bids from Suppliers will be sealed until your Bid Submission Deadline has passed.
Sealed Bids Selection
Once your Purchasing Event has been published and Suppliers have begun to submit bids, the received bids will not be able to be viewed by anyone on your team until the deadline has passed.
Did you already publish your Event, but realize you need to receive bids sealed? Or, conversely, would you like to de-select the Sealed Bids option?
Learn how to select or unselect Sealed Bids post-publishing by using our live editing feature.
Very often, Sealed Bids are used in tandem with our Public RFP option. To learn more about how you can use Scout for Public RFPs, see: