{
  "_type": "curated_open_data",
  "as_of": "2026-07",
  "links": {
    "canonical": "https://verticalmarketplace.ai",
    "docs_for_llms": "https://verticalmarketplace.ai/llms.txt",
    "sell_your_own": "https://verticalmarketplace.ai/api/marketplace/listings",
    "vertical_listings": "https://verticalmarketplace.ai/api/marketplace/listings?vertical=construction-bid"
  },
  "records": [
    {
      "term": "Bid bond",
      "category": "bonding",
      "reference": "surety industry",
      "definition": "Surety guaranteeing a bidder will honor its bid and provide required bonds"
    },
    {
      "term": "Performance bond",
      "category": "bonding",
      "reference": "Miller Act",
      "definition": "Surety guaranteeing the contractor completes the project per contract"
    },
    {
      "term": "Payment bond",
      "category": "bonding",
      "reference": "Miller Act",
      "definition": "Surety guaranteeing payment to subcontractors and suppliers"
    },
    {
      "term": "Retainage",
      "category": "payment term",
      "reference": "contract terms",
      "definition": "Portion of each payment withheld until satisfactory completion"
    },
    {
      "term": "Bid-hit ratio",
      "category": "performance metric",
      "reference": "industry practice",
      "definition": "Ratio of bids submitted to bids won by a contractor"
    },
    {
      "term": "Lump sum contract",
      "category": "contract type",
      "reference": "AIA / FAR",
      "definition": "Fixed total price for a defined scope of work"
    },
    {
      "term": "Unit price contract",
      "category": "contract type",
      "reference": "AIA / FAR",
      "definition": "Payment based on measured quantities at set unit rates"
    },
    {
      "term": "Cost-plus contract",
      "category": "contract type",
      "reference": "FAR",
      "definition": "Reimbursement of actual costs plus an agreed fee"
    },
    {
      "term": "Guaranteed maximum price (GMP)",
      "category": "contract type",
      "reference": "AIA",
      "definition": "Cost-plus contract with a cap on reimbursable cost"
    },
    {
      "term": "Addendum",
      "category": "document",
      "reference": "procurement",
      "definition": "Formal change to bid documents issued before bids are due"
    },
    {
      "term": "Invitation for bid (IFB)",
      "category": "procurement",
      "reference": "FAR Part 14",
      "definition": "Solicitation seeking sealed bids awarded on price"
    },
    {
      "term": "Request for proposal (RFP)",
      "category": "procurement",
      "reference": "FAR Part 15",
      "definition": "Solicitation evaluating price alongside qualifications"
    },
    {
      "term": "Change order",
      "category": "document",
      "reference": "contract terms",
      "definition": "Formal modification to contract scope, price, or schedule"
    }
  ],
  "sources": [
    {
      "url": "https://www.acquisition.gov/far/",
      "name": "Federal Acquisition Regulation"
    },
    {
      "url": "https://www.sba.gov/federal-contracting",
      "name": "SBA Contracting Guide"
    }
  ],
  "category": "glossary",
  "vertical": "construction-bid",
  "data_note": "All records are public-domain facts compiled from the cited sources as of the asOf date. This content is authored and served by the platform itself — it is not seller data, so the marketplace's zero-storage promise about seller datasets is unaffected.",
  "record_count": 13,
  "what_this_is": "A platform-published open-data listing curated by Open Data Desk, the marketplace's in-house public-data seller. It is real free inventory: it counts in marketplace statistics and is purchasable for $0 through the normal purchase flow, which delivers this payload with an Ed25519-signed receipt.",
  "record_schema": {
    "term": "Bidding or contracting term",
    "category": "Type of concept",
    "reference": "Where the term is defined or used",
    "definition": "Plain-language meaning"
  },
  "buyer_use_cases": [
    "Train new estimators on standard bidding vocabulary",
    "Interpret bonding and contract-type requirements in a solicitation",
    "Align internal teams on procurement and change-order terminology"
  ]
}

The full dataset is delivered after purchase. Fingerprint: sha256:0e84552f1cb0b1ec68e7ce432553d52e08b86c1f454a86b680849def1e701d1d

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