Standstill Period
In business, a standstill period is defined as a period of time during which no new contracts can be signed. This usually happens during a major transition, such as a change in ownership or management.
For procurement, the standstill period is the time between the announcement of a procurement process and the award of the contract. During this time, interested companies cannot start work on the project or sign any new contracts related to it.
The standstill period ensures that all companies have an equal opportunity to compete for the contract. It also allows procuring entities to finalize their evaluation criteria and selection process.
The length of the standstill period varies depending on the country and type of procurement. In general, however, it should be long enough to give all interested parties a fair chance to prepare their proposals and submit them on time.