A competitive bid is a sealed offer, including price and terms, submitted by a contractor to a purchaser, who selects the bid with the best combination of price and terms. This system is widely used by municipalities, railroads, and public utilities.
Local and regional airlines or railroads that bring traffic to national carriers.
The Interstate Commerce Commission (ICC), established in 1887, was the first federal agency created in the United States to regulate railroads and later trucking, ensuring fair rates and eliminating discriminatory practices in interstate transportation.
In transportation, a published fare or shipping rate that includes the cost of two or more carriers (such as airlines or railroads) required to reach the destination sought.
