closed bid
noun
COMMERCE ukus [ U ] (also closed bidding)
a system of choosing the best offer to supply goods or services by asking companies to offer their best price without knowing what the other companies are offering:
The supplier was chosen by closed bid.
a closed bid auction
Compare
open bid
sealed bid
[ C ]
an offer to supply goods or services that is kept secret until all offers have been received:
The land is going to be sold by submitting closed bids.