TENDERERS Meaning and
Definition
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Tenderers refers to individuals, organizations, or companies that submit proposals or bids in response to a call for tenders or a request for proposal. When a contracting authority, such as a government agency or a private organization, intends to procure goods, services, or construction works, they often invite interested parties to submit competitive bids or proposals. These parties are known as tenderers.
The process of tendering typically involves a series of steps, starting with the contracting authority issuing a detailed document outlining the requirements and specifications of the project. Potential tenderers then analyze this document and prepare their responses, including cost estimates, project plans, and other required information. These documents are generally referred to as tenders, bids, or proposals.
Tenderers are expected to demonstrate their qualifications, capabilities, and expertise in delivering the required goods or services. They must follow the guidelines and instructions specified in the tender document and meet the stipulated deadlines. In government procurement, tenderers often need to provide supporting documentation such as financial statements, references, or certifications to establish their eligibility and credibility.
During the evaluation phase, the contracting authority reviews and assesses the submitted tenders based on predetermined criteria, such as price, quality, technical expertise, or sustainability. The most suitable tenderer is then awarded the contract or agreement, and negotiations may ensue to finalize the terms and conditions. However, it is important to note that being a tenderer does not guarantee winning the contract; it is a competitive process where only the most competitive and compliant tenders are selected.
Etymology of TENDERERS
The word "tenderers" is derived from the noun "tender" + the suffix "-er" to indicate plural form or someone who performs a particular action.
The term "tender" originated from the Old French word "tendre" meaning "soft, delicate" and can be traced back to the Latin word "tener" with the same meaning. Over time, "tender" has developed various meanings including gentle, kind, delicate, young, and vulnerable.
When the suffix "-er" is added to "tender", it forms the word "tenderer", which refers to more than one person or group that tenders or makes offers, usually in the context of business or contracts.
Therefore, "tenderers" ultimately signifies multiple individuals or entities making offers or bids for a tender.
