Truth is there are various ways of initiating offers from suppliers, such include:Īll of which are complex in their own way, and present various advantages and disadvantages of tendering. This is seen in the bids presented, which is why you need to be careful to avoid bid rigging. The purpose of tendering is mostly for the organization to know what the suppliers market is like and how that market can give the organization value for its money. So if you are a supplier of some sort when you see a company publishing invitation to tenders (ITT) it is the companies way of saying, “ go on make us an offer”. In short, a company has a problem they need fixed, they ask potential suppliers to make them offers and the process begins. The process by which an organization, in this case the client or employer, invites contractors to place a bid for work on a construction project, supply of goods or even provision of services. Tendering can be defined as: ‘The public release or public communication by an organization of the requirement of goods or services for a project in order to allow formal bids to be made to supply these goods or services’ this is according to CIPs.Ī simpler way to look at it, if for some reason you find that definition too academic is
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