!Summary
"Meet The Competition" clauses, also known as "last look" provisions, are contractual arrangements between a [supplier|Value Net] and a [customer|Value Net] which ensure that the incumbent supplier is given the opportunity to meet the price of any other suppliers bidding for new work.
!Effects
The primary effects of a Meet The Competition clause are benefits to the incumbent supplier - in particular because they raise the [hidden costs of bidding|Costs Of Bidding] for potential new entrants.

The downside for the supplier is exposure to profit erosion by aggressive [competitors|Value Net] who can bid low without having to deliver.

Meet The Competition Clauses are a way of getting [paid to play|Get Paid To Play]
!References
# [CoOpetition] pp 165-171
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