Answer: See explanation
Step-by-step explanation:
Competitive bidding is when's public bid is issued and companies compete for that particular project. This is usually common with government agency as it gives room for fairness.
A negotiated bid is when negotiation takes place between the project and the contractor that they want.
The conditions that might a company prefer to negotiate rather than use competitive bidding to select a supplier when the variable that matters isn't only price. In this case, the company may negotiate with a supplier who's being paid premium.
Also, when there's a chance that specifications may be changed, this can lead to negotiated bidding being preferred. Furthermore, limitation of time can also make negotiated bidding being preferable.
Lastly, when a significant amount of money is involved, and new technologies are required, a company may prefer to negotiate.