Tender: Difference between revisions
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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. | 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== | ==See also== | ||
*[[Bid bond]] = tender bond | |||
*[[Legal tender]] | *[[Legal tender]] | ||
*[[Quote]] | |||
*[[Request for proposal]] | *[[Request for proposal]] | ||
*[[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.
