honesty in bidding

Honesty in bidding means accurately representing the true value or cost of a project or item without exaggeration or underestimation. It involves submitting a bid based on realistic assessments, ensuring you neither overprice nor undervalue your offer. This integrity fosters trust between parties, encourages fair competition, and helps maintain a transparent marketplace. Being honest in bidding also reduces the risk of disputes, delays, or financial losses, as all participants operate on accurate, truthful information, ultimately leading to more reliable and mutually beneficial agreements.