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From what I understand, pre-qualification of tenders is a system in which prospective contractors are first screened by the hiring firm. If the firm deems them good enough for the job (financially sound, all insurances in place, technical capacity, appropriate management etc.) they are then labeled as pre-qualified contractors. After your business is pre-qualified, you will then be invited to tender on work from the firm that pre-qualified you. Different firms/industries have different criteria for pre-qualification.

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Q: What do you mean by Pre-Qualification of tender?
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What does it mean by mortgage prequalification?

Mortgage prequalification is a term used when an initial application for a mortgage as been approved. This will depend on the information your originally applied for a mortgage, and will be further confirmed if you found a home to purchase.


Where can one find a mortgage prequalification calculator online?

Many banks will have a mortgage prequalification calculator or a list of requirements posted on their websites. Getting data from the official website is more accurate than using a third party mortgage prequalification calculator.


What do you mean by tender notice?

To Tender Notice means in basic to GIVE NOTICE of an event. In employment terms tender notice would mean to resign or have a notice of termination of employment given to you. Business terms it can mean to give forwarning of ceasation of a contract, partnership etc


What is a loan prequalification calculator?

A loan pre-qualification calculator is basically a program that calculates your ability to qualify for a mortgage or a loan. You can find a free one on Bankrate's site.


What does the term tender in business mean?

When a person or business wants something done by another business, then the normal way of doing this is to make a number of businesses compete for the work. This is done by going out to tender. The work to be done is specified in a document (a tender) and bidders are given a fixed time to reply to the tender specifying how they are going to do the work and how much they will charge. The bids are all opened on the same day and a contractor chosen and engaged for the work. This is the normal tender process (very much simplified)