Tender: Difference between revisions

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==See also==
==See also==
*[[Bid bond]]  = tender bond
*[[Legal tender]]
*[[Legal tender]]
*[[Quote]]
*[[Request for proposal]]
*[[Request for proposal]]
*[[Tender bond]]
*[[Tender offer]]
*[[Tender offer]]
*[[Tender panel]]
*[[Tender panel]]

Latest revision as of 12:22, 2 July 2022

1.

A process in which a number of different potential suppliers put forward formal proposals, or bids, to provide specified services or goods to a customer.

Also known as a 'competitive tender', because of the competition between the potential suppliers.

For example, a bank tender in which different banks put forward proposals to provide banking services.


2.

To submit a proposal - as a potential supplier - in a tendering process.


3.

An offer of performance under a contract, most commonly an offer of the price of goods or services, made by a buyer to a seller.


4.

Abbreviation for legal tender.


See also