RECOMPETE Meaning and
Definition
-
Recompete is a term commonly used in business and government contracting to describe the process of holding a competition again after a contract has expired or is about to expire. It refers to the practice of reopening a contract for bidding by multiple vendors or suppliers in order to determine the best candidate to provide goods or services.
In a recompete, the existing contractor may or may not continue to be involved in the bidding process. They may have to compete with other vendors, including both incumbents and new entrants, to retain the contract. This process ensures that the contract holder continues to provide the best value and quality for the goods or services required.
The recompete process often involves an extensive evaluation of proposals, which may include conducting negotiations and making modifications to the contract terms and conditions. These evaluations typically focus on factors such as cost, technical capabilities, past performance, and management approach. The contract may be awarded to the bidder that offers the best combination of these factors.
Recompeting contracts not only encourage competitive pricing, but also foster innovation and improved service delivery, as vendors strive to outperform their competitors. It provides an opportunity for organizations to reassess their requirements and explore alternate options. The recompete process can lead to enhanced efficiency, effectiveness, and value for both the contracting agency and the vendor ultimately selected for the contract.
Etymology of RECOMPETE
The word "recompete" is a compound word formed from the prefix "re-" meaning "again" or "back" and the verb "compete" meaning "to strive or contend against others for victory or superiority".
The prefix "re-" comes from the Latin word "re-" or "red-" which carries the meaning of "again" or "back", often indicating repetition or restoration. It is commonly used in English to indicate doing something again, returning to a previous state, or repeating an action.
The verb "compete" originated from the Latin word "competere" which is a combination of "com-", meaning "together", and "petere", meaning "to strive or seek". It originally had the sense of seeking or striving together, but over time it evolved to mean the act of striving against others for victory or superiority.
