What is a closed tender?

Answer 1

A closed tender is a bidding process where only selected suppliers or contractors are invited to submit their proposals for a project or procurement. This method is often used to ensure confidentiality and to streamline the evaluation process, allowing the issuing organization to work with trusted partners. Closed tenders can lead to more competitive pricing and better quality submissions, as the participants are typically pre-qualified. Unlike open tenders, where anyone can bid, closed tenders limit participation to a specific group.

Answer 2

A closed tender is a procurement process where only invited suppliers or contractors can submit bids for a project. This approach is typically used to maintain confidentiality, ensure a level of quality, or expedite the selection process. Unlike open tenders, which allow any interested party to submit a proposal, closed tenders limit competition to a select group to foster better relationships or meet specific project requirements.