Analysis of the Asymmetric Situation in the
Process of Tendering & Bidding and Strategies
Choices for The Owner & The Tenderer
Abstract--The tendering and bidding process is the key
step in forming the co-operative relationship in project
construction ． As one of the most important process of
construction, bidding is carried on an asymmetric
situation ． From the view of the Tenderer,the asymmetric
information can be considered as unreplied or unexpressed
contract system．However，from the view of the Owner， it
is the measurement taken by the Tenderer corresponding to
his bidding documents, but unbeknown to him ． This
Asymmetric Situation has great effect of the process of co
oject, and to treat and adjust the situation reasonably will be a
key problem．Here．from different views, we discussed the
asymmetric information situation and gave some advice to
both ． Both the owner and the Tenderer can take some
measures to make up for the asymmetrical information so as
to guarantee the smooth undertaking of the business and
realize the interest aims of each parties．
Keywords Construction Bidding Asymmetric
Information Implied Contract
1. INTRODUCTION
The tendering and bidding process is the key step in
forming the co-operative relationship in project
construction．During the tendering and bidding，the Owner
proposes the aim，requirement and the mode of co-operation
and expresses them in the form of tendering documents and
contracts ． In response to the demands of the Owner, the
Tenderer puts forward correspondent aim and promise based
on its evaluation of the project．
The co-operation o f the two parties of the construction
is reflected and regulated through contracts and the Owner
and Tenderer exchange information and establish contracts
during the tendering and bidding process ． However, the
exchange of information is neither complete nor symmetrical
and the Owner constructs an asymmetrical information
platform for the Tenderers while the Tenderer also takes some
corresponding measures.
2． THE ASYMMETRIC SITUATlON OF
THE OWNER AND THE TENDERER
A．The information platform of the Owner
The Owner constructs the information platform around
the contracts，including stated contract(or expressed contract
/conditions)and implied contract (or unexpressed contract ／
conditions)．
The stated contract which is provided by the Owner is
the document consisted of contract terms and conditions as the
rules and regulations in the co-operation of the project
construction ． It signifies the management system and
procedure of the project as well as the way of solving the
problems arising during the construction．The stated contact is
specified in the text and terms of the construction contract．
Generally speaking ， the format of this document is
fixed and its sample including the notice to the Tenderer,Bill
of Quantity ， Drawing and 1etters etc ， is circulated in the
industry ． All these documents are stated clearly and the
Tenderer can decide its own tendering strategy and price
according to the information ． The certainty of the stated
contract enables the Tenderer to understand and grasp the
information；therefore it is of primary importance in deciding
the price of the tendering．
The implied contract is the part which does not appear
in the stated contract, but still is accepted by the two parties
and has the power of binding their behavior．For one thing，the
implied contract consists of the social, Economic,1egal and
technical backgrounds of the stated contract, therefore serving
as its precondition ；for another, the implied contract is also
the reasonable inference drawn from the stated contract under
certain social ， economic ， legal and technological
backgrounds．Therefore，the implied contract is made up of
two parts ： the common implied contract and the inferred
contract．
The common implied contract mainly refers to the
relevant laws and regulations issued by the government, the
conventions established by usage in this particular
industry ． the technological regulations which has the legal
power and the basic principles accepted in the realms of
technology and economy．Although the part mentioned above
is not stated clearly and detailedly in the articles of the
contract, it still constitutes the rule and regulations in the
process of project construction．Therefore it can not be
violated since both parties are clear about its existence．
The inferred contract is based on the reasonable and
just inference of the stated contract and the common implied
contract, therefore should be abided by during the
implementation of the project．Besides， in specific project
environment，the inferred contract can serve as the basis and
standard of the two parties ． Compared with the common
implied contract, the inferred contract is more complicated
because “it is the basis and standard based on sensible
inference” ． This poses a challenge to the professional
proficiency of the person who infers and the person who
judges．Only when the two parties have similar professional
proficiency and background and understand the principles in
the similar way，can they come to similar conclusions．
Due to the existence of the implied contract ， the
Tenderer can not obtain the same information as the Owner
does ； therefore the information platform of the Owner is
asymmetrical from the viewpoint of the Tenderer ． The
Owner takes the initiative position at the first stage of the
trade as well as in the process of information exchange．
B．The information platform of the Tenderer
In order to obtain the contract of the project and then
the profit of construction, the Tenderer will offer
corresponding information to meet the demands of the
Owner．The information is based on its own estimation of the
project environment, construction requirement and profit
expectation，therefore forming the information platform of the
Tenderer ． The information offered by the Tenderer is the
response to the active information of the Owner, so the
Tenderer takes a comparatively passive position on the first
stage of the trading process．
3. THE ACTIVE AND PASSIVE POSITIONS
Of THE TWO PARTIES
The active and passive positions formed on the first
stage of the bidding and tendering process will change
along with the changes of the asymmetricalness of the
information exchange between the two parties during the
business process．
A, the active and passive positions of the Owner
The active position of the Owner derives from its
mastery of the original information of the project and its
right of issuing information．Secondly．its active position also
lies in its rights of evaluating the bidding information and
deciding the successful Tenderer．
But the disadvantage lies in that its information
platform remains standstill，and instead of being responsive
information, the information is only the original．At the same
time ． when faced with a large number of Tenderers ， the
Owner can not choose actively；instead it can only accept one
of the Tenderers passively according to the fixed rules．At this
time ， the important details relevant to the interest of the
project, such as the pricing strategy and the project strategy of
the Tenderer can not be made sure during the tendering and
bidding process．From this aspect, the Owner is undoubtedly
the passive accepter of in the information exchange．
Besides，the implied contract formed in the tendering
and bidding process seems to be especially disadvantageous to
the Tenderers．because it will increase their risk as well as the
disputes．Therefore．the Tenderers will raise the price in the
tendering process so as to make up for the potential loss，
which in turn will increase the latent loss of the Owner．
The Owner is the party who drafts and signs the
contract ： therefore all kinds of implied contract will not
protect its interest．What is more．The principle of ‘'reverse
interpretation” in settling the contract dispute is even more
disadvantageous to the Owner．
B. The active and passive positions of the Tenderer
Now let us look at the positions of the
Tenderer．During the bidding process，when confronted with
the high-above information platform of the Owner, the
Tenderer takes a passive position．But the Tenderer has the
freedom of choice and it can choose different Owners and
different projects ．This helps the Tenderer to win an active
position in terms of evaluating the expected profit and
comparing the project information．
At the same time，when confronted with all kinds of
restrictions and information barriers made by the Owner，the
Tenderer can actively choose the strategy to deal with．It can
make up for the loss of information and even construct an
information barrier responsively ； in terms of these ， the
Tenderer can become the comparatively active side in the
information exchange．
招投标过程中业主和投标者不对称状况和策略选择的
分析
摘要：招投标过程是形成建设项目中合作关系的关键.作为工程建设最重要的过程，招投标
在一个非对称状态下进行。在投标者看来，不对称信息可以被视为没被答复或没有表现出来
的合同体系.然而，从业主角度来看，它是投标者根据业主招标文件所采取的措施，只不过
他不知道。这个不对称形态对工程建设项目过程有重大影响，并且合理的应对和适应这一状
况将会是一个关键问题。现在我们从不同的角度讨论非对称信息状况并且给双方一些建议。
业主和投标人都可以采取措施来弥补非对称信息，为了保证顺利的实现交易并实现双方的利
益目标。整治和调整这种情是将会是一个关键问题.这里，听取了不同的意见后，我们讨论
了非对称信息情况，并提出了一些建议给投标者和招标者.双方可以采取很多措施去克服非
对称信息，以保证业务的顺利开展，旨在弥补实现各方利益。
关键词：工程招标 信息不对称 默认合同
1。简介
招投标过程是形成建设项目中合作关系的关键.在招投标的过程中，业主在招标文件和
合同中提出目标，要求和双方合作的模式 ，为了响应业主的要求，投标者根据其对项目的
评估提出相应目标作出承诺。
工程双方的合作关系通过合同来反映和规定，并且在招投标过程中业主和投标者交换信
息并订立合同。然而，信息交换既不完整也不对称，业主为投标者构建了一个不对称的信息
平台投标者也采取相应的措施。
2。业主和投标者的不对称情况
A:业主的信息平台
业主围绕合同构建了信息平台，这些合同包括被标明的合同（或明示合同/条件），和隐
含的合同（或没有表现出来的合同/条件）。
由业主提供的明示合同是一包括在建设项目中作为规则的文件.它表明了工程项目的管
理体系和程序以及在工程建设过程中出现问题的解决方法。这种明示的合同会在工程合同的
文本和条款中具体列出。
一般来说，这个文件的格式是固定的，而且在该行业传播，其内容包括投标人须知，工
程量清单，施工图和保函等。所有的这些文件标明的很清楚明确，而且投标者可以根据这些
信息来决定自己的投标策略和价格。明示合同的确定性能够让投标者了解和掌握相关信息，
因此在决定投标价格时它非常重要。
默认合同是没有出现在明示合同中的部分，但它仍被双方所接受并对其行为具有约束力.
一方面，隐含合同包括明示合同的社会，经济，法律和技术背景，因此它是做为前提而服务
的;另一方面，隐含合同是对某特定的社会，经济，法律和技术背景的明示合同的合理诠释，
因此隐含合约是由两部分组成：常见隐含合同和常见合同。
常见的默认合同主要是指有关法律和由政府颁布的法规以及在特定行业约定俗成的习
惯.具有法律效力的技术规定和被工程和经济领域认可的基本准则。尽管以上提到的部分没
有明确和详细地在合同内容中提到，但它仍然是项目建设过程中的准则。因此它不能违犯，
因为双方都清楚它的存在。
推断合同是基于明示合同和一般默认合同合理和公正的解释，因此在项目施行过程中应
当遵守。在具体的项目环境下，推断合同可以作为双方的基础和标准。与一般默认合同相比，
推断合同更复杂，因为“这是基于合理推断的基础和标准”。这对推断和裁决人员的职业能力
提出了挑战。只有当双方有相似的背景和专业水平且以同样的方式理解这些原则，才能得出
相似的结论。
由于默认合同的存在，投标人不能获得与业主相同的信息，因此从投标人的角度来看，
业主的信息平台是不对称的。因此业主在交易开始时占据主动地位，在信息交换过程中亦是
如此。
B 投标人的信息平台
为了获得该项目的合同和接下来的利润，招标人将提供相应的信息以满足业主的需求。
这些信息是基于他们自己对项目环境，建设要求和期望利润的估计，而这形成了投标人的信
息平台 投标者提供的信息是对业主有效信息的响应，因此投标人在交易过程的开始阶段就
处于被动地位。
3。双方主动与被动的地位
交易过程中在招投标的第一阶段形成的主动和被动地位将随着双方信息交换不对称的
变化而变化 。
A 业主的主动和被动地位
业主的主动地位来自它对项目本来信息的掌握和发布信息的权利。第二，它的主动地位
在于它评标和决定谁是投标胜利者的权利。
但缺点在于，它的信息平台停滞不前，他的信息只是原来的，而不是响应性的。与此同
时，在面临众多的投标者时，业主不能够自由选择，相反，它只能根据固定的规则被动地接
受一个投标者。在这个时候，有关项目利益的重要细节，譬如投标者报价策略和项目方案，
在招投标过程中不能确保。从这个方面来说，，业主无疑是信息交换过程中的被动接受者。
此外，投投标过程中形成的默认合同，似乎是特别不利的投标者。因为它会增加他们的
风险和争议。因此，在投标过程中投标者将提高价格，以便弥补潜在损失，这反过来会增加
业主的潜在损失。
业主是起草和签订合同的一方。因此，各种默认合同不保护其利益。而且，“反向解释”
解决合同纠纷原则对业主更不利。。
B.投标者的主动和被动的地位
现在让我们看看投标者的地位。在投标过程中，在业主高信息平台面前，投标者处于被
动的地位。但投标者有选择自由，它可以选择不同的业主和工程。这有助于投标者在估计期
望利润和比较工程信息时处于主动地位。
与此同时，在有业主引起的各种限制和信息障碍面前，投标人可以主动选择策略来应对。
它可以弥补信息损失，甚至相应地构建一个信息屏障，基于此，投标者可以成为信息交流相
对主动的一方。
