TENDERING Meaning and
Definition
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Tendering is a term that refers to the process of inviting bids or proposals from suppliers or contractors for the supply of goods or services. It is commonly used in the procurement and contracting industry and is an essential part of the process for organizations, governments, or businesses looking to acquire goods or services.
The tendering process typically begins with the issuance of a document called a tender, tender notice, or request for proposal (RFP) that outlines the requirements, specifications, terms, and conditions of the project or contract. This document is sent to potential suppliers or contractors who are then invited to submit their offers or bids within a specified timeframe.
During the tendering process, interested parties may seek clarification or additional information regarding the project or contract through a process called a pre-tender meeting or site visit. Once the deadline for submission of bids has passed, the organization or procuring entity evaluates the received bids based on various criteria such as price, quality, experience, and compliance with the specified requirements.
The organization then selects the bid that best meets its needs and requirements and awards the contract to the successful bidder. This process ensures transparency, competitiveness, and efficiency in acquiring goods or services.
Overall, tendering is a formalized procurement procedure designed to invite and evaluate bids from potential suppliers or contractors to ensure fair competition, obtain the best value for money, and ultimately select the most suitable supplier or contractor for the project or contract.
Top Common Misspellings for TENDERING *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for TENDERING
Etymology of TENDERING
The word "tendering" has its roots in the Old French word "tendre", which means "to stretch" or "to extend". It ultimately comes from the Latin word "tendere", meaning "to stretch" or "to strive".
In English, "tendering" first appeared in the 16th century and originally referred to the act of offering or presenting something. It later developed a specific meaning in the context of contracts and business transactions, where it refers to the process of inviting bids or proposals for a project or service.
Conjugate verb Tendering
CONDITIONAL
I
would tender
we
would tender
you
would tender
he/she/it
would tender
they
would tender
FUTURE
I
will tender
we
will tender
you
will tender
he/she/it
will tender
they
will tender
FUTURE PERFECT
I
will have tendered
we
will have tendered
you
will have tendered
he/she/it
will have tendered
they
will have tendered
PAST
I
tendered
we
tendered
you
tendered
he/she/it
tendered
they
tendered
PAST PERFECT
I
had tendered
we
had tendered
you
had tendered
he/she/it
had tendered
they
had tendered
PRESENT
I
tender
we
tender
you
tender
he/she/it
tenders
they
tender
PRESENT PERFECT
I
have tendered
we
have tendered
you
have tendered
he/she/it
has tendered
they
have tendered
I
am tendering
we
are tendering
you
are tendering
he/she/it
is tendering
they
are tendering
I
was tendering
we
were tendering
you
were tendering
he/she/it
was tendering
they
were tendering
I
will be tendering
we
will be tendering
you
will be tendering
he/she/it
will be tendering
they
will be tendering
I
have been tendering
we
have been tendering
you
have been tendering
he/she/it
has been tendering
they
have been tendering
I
had been tendering
we
had been tendering
you
had been tendering
he/she/it
had been tendering
they
had been tendering
I
will have been tendering
we
will have been tendering
you
will have been tendering
he/she/it
will have been tendering
they
will have been tendering
I
would have tendered
we
would have tendered
you
would have tendered
he/she/it
would have tendered
they
would have tendered
I
would be tendering
we
would be tendering
you
would be tendering
he/she/it
would be tendering
they
would be tendering
I
would have been tendering
we
would have been tendering
you
would have been tendering
he/she/it
would have been tendering
they
would have been tendering
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