Page 22 - Demo

Doing Business in Brazil
There are
4 types of bidding procedures: i. Open ii. Closed; iii. Mixed); iv. Auction.
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Specific regulations applied to those companies are designed to
be a middle
term between the regulations applicable to public companies and those applicable
to private companies in general.
3. Bidding Procedures
There are 4 types of bidding procedures:
i. Open: public and successive bids, ascending or descending;
ii. Closed: proposals are delivered closed and are then opened at the same time. The proposal with the lower amount wins;
iii. Mixed: when the object of the tender can be split into different types of bidding procedures (open or closed);
iv. Auction: similar to the open bidding procedure, but designed to goods and services where a simple description of standard products is sufficient to identify the goods or services to be purchased.
4. Judgment Criteria
The bidding procedure may set the following criteria for a decision: lower price, highest discount; best technique; artistic content; technique and price; greater price offer; greater economic return; better allocation of goods/assets.
5. Contractual Term
Contracts can only have a maximum term of 5 years, including any possible extensions, except in certain specific cases.