Meaning of “underbid” in the English Dictionary

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"underbid" in Business English

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underbidverb [ T ]

uk /ˌʌndəˈbɪd/ us underbidding, underbid, underbid COMMERCE

to offer to do work or provide a service for a lower price than someone else:

They stopped bidding for airport contracts because they were routinely underbid by cheaper providers.

(Definition of “underbid” from the Cambridge Business English Dictionary © Cambridge University Press)