Licitazione

Licitazione refers to a competitive bidding process, typically used in public procurement and private sector transactions, where interested parties submit offers to win a contract or acquire an asset. This process is designed to ensure transparency, fairness, and value for money by allowing multiple bidders to compete. The term originates from the Latin word "licitari," meaning to bid for.

In a licitazione, a contracting authority or seller usually publishes a notice outlining the requirements of the contract or the specifications of the asset being offered. Potential bidders then review these details and prepare their proposals, which typically include pricing, technical specifications, and delivery terms. These bids are submitted by a specific deadline.

Once the bids are received, they are opened and evaluated according to predefined criteria. This evaluation can involve assessing the lowest price, the most economically advantageous offer, or a combination of factors. The bidder who meets the established criteria most effectively is awarded the contract or the asset. The process is often governed by specific laws and regulations, especially in public tenders, to prevent fraud and ensure equal opportunity. Licitazione is a fundamental mechanism for competitive acquisition in many economic systems.