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Open tendering offers several advantages, including increased transparency and competition, which can lead to better pricing and quality of goods or services. It allows a wider pool of suppliers to participate, encouraging innovation and diverse solutions. Additionally, the open process can enhance public trust as it minimizes the risk of favoritism or corruption in procurement. Overall, it fosters an equitable environment for bidders and can result in more efficient use of public funds.
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What is open tender?
Bidding process that is open to all qualified bidders and where the sealed bids are opened usually in public for scrutiny and are chosen on the basis of price and quality. Also called competitive tender or public tender.
What is the difference between an open and closed tender?
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.
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