COB (Close of Business)
Close of Business (COB) is a term used in procurement to refer to the time when business activities are officially closed for the day. It can be used as a deadline for submitting applications or documents, and all transactions must be completed before COB in order for them to be considered valid. In general, COB is determined based on local laws and customs, but it typically takes place at 5:00 pm or 6:00 pm in the time zone where the business operates.
