Tender is the enquiry floated by the purchaser for the purchase of any material, completion of work etc.
Quotation is the answer given by the supplier to tender enquiry in terms of rate quoted for each item etc.
what is the difference between an auction and a tender
tender is a own organisation format but quotation is a organisation format.
A bid is making a financial offer for something or the amount of money that you will pay for something. A tender is offering a service at a specific price.
Time is the factor here.When you have more time, you do bidding and less time you do negotiating.Eg - Assume you want a profitable supplier, so what you do is ask for quotations.If you have enough time for the selection - You organize a tender and ask for quotations and select your desired ones leisurelyButIf it is urgent (less time) - You quickly seek quotations from your new suppliers via phone calls, email, faxes or any other available modes.
what is the difference between approval and endorsement
what is the difference between an auction and a tender
tender is a own organisation format but quotation is a organisation format.
A bid is making a financial offer for something or the amount of money that you will pay for something. A tender is offering a service at a specific price.
Time is the factor here.When you have more time, you do bidding and less time you do negotiating.Eg - Assume you want a profitable supplier, so what you do is ask for quotations.If you have enough time for the selection - You organize a tender and ask for quotations and select your desired ones leisurelyButIf it is urgent (less time) - You quickly seek quotations from your new suppliers via phone calls, email, faxes or any other available modes.
The difference between an open and closed tender is located on the range of the bidders. Open tenders allow any supplier to bid for your business and also can be useful in establishing the average cost of systems and standard inclusions/ exclusions which closed tender invites select suppliers who have been identified meet or close to your requirements.
A contract is an agreement between two parties for any means, typically involving some sort of exchange. A tender document is a document that indications the specification of a customer.
An offer on a product is the amount of money that a person is willing to pay for a particular product. The tender is the amount of money that has actually been paid for a product.
A tender notice is a public announcement inviting bids from potential suppliers, while a tender document contains detailed information about the project, requirements, terms, and conditions for the bidding process. The tender notice alerts potential bidders to the opportunity, while the tender document provides the specific guidelines for submitting a bid.
Fiat money is the money with no intrinsic value and its value is guaranteed by the monetary authority. Thus, Fiat money is with legal tender. People is bound to accept it.
Tender is a formal invitation to suppliers to make an offer to the buyer for the supply of goods and services as set out in the specification document within the formal tender document. Contract is the formal agreement between the buying organisation and the supplier setting out what services and products the supplier is contracted to deliver and within the timeline and contract price.
Simmering is done at higher temperatures than a submerged poach, and can use less tender food items and larger portions.
A tender is a formal offer submitted by a contractor or supplier to undertake a project or provide goods and services at a specified price, often following a competitive bidding process. An estimate, on the other hand, is a preliminary calculation of the expected costs for a project, typically provided before a tender is submitted, to give clients an idea of potential expenses. While a tender is binding upon acceptance, an estimate is usually not.