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A Tender is an open offer "to Make an offer".
Ex:
A Company wants to buy 1000 computers.
It will give a tender notice in News papers with all the specifications it wants, for manufacturers to respond to it.
Many manufacturers respond bidding their price for the 1000 computers.
The most competitive bid wins the tender (deal/contract).
What else can I help you with?
How is a contract discharged by tender of performance?
the parties do what they said they would do under the contract
What is a formal contract?
It is an agreement between the chicken and the tender.
What does it mean to non tender someone?
to not offer them a contract
What does it mean to submit a tender for a business contract?
i am in a small business which is going up for tender soon what does that entail
What is the difference between tender and contract drawing?
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.
What is the difference between a contract document and a tender document?
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.
Who prints the argos catalog?
Its out sourced to subcontractor printers who tender for the contract annually.
What will happen to the tender bond if the tender who has been accepted fails to provide performance security?
The Tender Bond will be forfeited if the Tenderer withdraws his Tender during the period of tender validity specified in the Tender Documents; or in the case of a successful Tenderer, if the Tenderer fails to sign the Contract and/or furnish the Performance Bond
What does TENDER a contract mean?
To tender a contract means to offer a bid or proposal to carry out a job or service at a specific price. It involves submitting a formal document outlining the terms, conditions, and details of the work to be done.
What is the tender of goods?
The tender of goods refers to the formal offer to deliver goods or perform services as specified in a contract. It involves presenting the goods to the buyer at the agreed time and place, fulfilling the seller's obligation under the contract. Proper tender must meet the terms of the agreement, including quality and quantity, and is essential for the buyer to accept the goods and complete the transaction. If the tender is not made correctly, the buyer may have the right to reject the goods.
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 does the contract will be going to tender mean?
The phrase "the contract will be going to tender" means that the agreement or project is being prepared for a competitive bidding process. During this process, various suppliers or contractors will submit proposals outlining how they would fulfill the contract's requirements and at what cost. This approach aims to ensure transparency, fairness, and the selection of the best value option for the contracting party. Once bids are received, the contracting authority will evaluate them and ultimately award the contract to the chosen bidder.
