Status of Bid invitation and BID

Hello All
What are  status ( ALL STATUS)  header / technical status of Bid Inviatation and Bid response existing  AND THEIR IMPORTANCE ?
for example
Bid Invitation
approved ( do we really require bid response approval)

For Bid Invitation
1. Held Bid
2.Awating Approval. --Bids are subjected to Approval
I think created is not there
For Bid
1. Accepted
2. Rejected
3.Unprocessed Bids --Bids submitted by the vendor  but due date is there for processing
In SRM 7.0 only Bid Response is there.In this supplier has to click the button stating whether he is participating in the Bid.
G.Ganesh Kumar

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