Tender: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add 4th definition.) |
imported>Doug Williamson (Mend link.) |
||
| (One intermediate revision by the same user not shown) | |||
| Line 24: | Line 24: | ||
==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.
