Tender: Difference between revisions
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imported>Doug Williamson (Add 4th definition.) |
imported>Doug Williamson (Add link.) |
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==See also== | ==See also== | ||
*[[Legal tender]] | *[[Legal tender]] | ||
*[[Quote]] | |||
*[[Request for proposal]] | *[[Request for proposal]] | ||
*[[Tender bond]] | *[[Tender bond]] | ||
Revision as of 14:59, 28 April 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.
