MCE 2.99% 34.5¢ matrix composites & engineering limited

Can someone please explain what the Quotes: Bid to contract...

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    Can someone please explain what the Quotes: Bid to contract mean.

    The definition provided states that it is "a quote that is capable of acceptance by the client"

    The only difference between this and a quote is that perhaps the company has been shortlisted in the tender process?

    Any thoughts? This is the first time the quarterly has shown this information.
 
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