What term describes when a sub-bidder approaches a general contractor to lower the original price?

The term that describes when a sub-bidder approaches a general contractor to lower the original price is known as Bid Peddling. In construction and contracting, bid peddling occurs when subcontractors attempt to underbid one another to win a project or to convince the general contractor to select their bid over others. It often involves subcontractors coming back with a revised, lower bid after their initial price submission, in hopes of securing the contract.

Bid peddling can be a competitive practice among subcontractors, reflecting the competitive nature of the industry. This is particularly relevant when a general contractor has received multiple bids and is looking for the best value. The focus of bid peddling is on adjusting the original price to make it more appealing to the general contractor, thus influencing their decision-making process regarding which subcontractor to hire.

Price cutting, while related, does not specifically denote the action of a sub-bidder reaching out to propose a lower price after an initial bid has been made; it can refer simply to any reduction in price. Negotiation is a broader term that encompasses discussions aimed at reaching an agreement but does not specifically denote the act of a sub-bidder initiating contact for a lower price. Contract amendment refers to officially changing