What's the difference between underbid and underbind?
Underbid
Definition:
(v. t.) To bid less than, as when a contract or service is offered to the lowest bidder; to offer to contract, sell, or do for a less price than.
Example Sentences:
(1) According to Harry Fletcher, of the National Association of Probation Officers, when Serco won the probation services contract in London it did so by massively underbidding the public sector with a view to stripping out 100 of the 550 jobs.
(2) To hear Baker talk, you'd think the words "deficit reduction" had never been uttered; his fellow ministers used to say he was never knowingly underbid in public spending rounds.
(3) But in the meantime, every institution that invests in Exxon should take real note of who you’re keeping company with.” Exxon is also being investigated by Nigeria’s economic and financial crimes commission after it secured oil rights in the African nation despite apparently underbidding a Chinese rival bid by $2.25bn.