What term describes a subcontractor's attempt to negotiate a lower price after the project has been awarded?

The term that describes a subcontractor's attempt to negotiate a lower price after the project has been awarded is known as bid peddling. This practice typically occurs when a subcontractor seeks to undercut another subcontractor's price by offering a lower bid or proposal to the general contractor, after the initial bidding process is complete and the project has already been awarded. This tactic can create tension and distrust among contractors and subcontractors, as it undermines the integrity of the bidding process and can lead to significant issues in project management and execution.

Understanding bid peddling is important for industry professionals, as it highlights the competitive nature of contracting work and the ethical considerations that should guide negotiations and partnerships. This term contrasts with bid shopping, which refers to the practice of a general contractor soliciting lower bids from multiple subcontractors after having already awarded the contract, while bid rigging involves illegal collusion among parties to manipulate the bidding process unfairly.