Rejection of Bid –
[Name, Company Name & Address here]
We appreciate your interest in our bidding for [product/service name] on [date]. We found that your products are very impressive and your prices are also close to what we have pre-decided.
However, we have decided to give this order to some other supplier because of some genuine reasons.
Though, the contract has been given to other agency, we would request you to bid for our future contracts. Soon we will be inviting bids for – [State here the product/service name for bidding].
Further, it may be of interest to you to know that the winning bidder bid with an amount 15% lower than yours and also promised delivery within [duration].
Look forward to do business with you in future.
[Your name & Designation]