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Understanding the Types & Methods of Tenders

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Understanding the Types & Methods of Tenders

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  1. Understanding the Types & Methods of Tenders

  2. Introduction Tender basically refers to the method in which government invites bids for big projects that must be submitted within a fixed deadline.

  3. Types of Tender: * Open Tender In this process, the company announces its proposed project and licenses so that contractors who are interested can apply for the tender. Although no restrictions are placed on contractors for submitting a tender, but suppliers are required to provide all necessary information and are assessed against the stated selection criteria.

  4. Types of Tender: * Select Tender A select tender is open only for a selected number of suppliers. The suppliers are either shortlisted from an open tender or from an accumulation of businesses that the organization has worked with earlier.

  5. Types of Tender: * Multi- stage tender This type of tendering is used when there are a large number of respondents. At every phase in the procedure, a rigorous shortlisting procedure is carried out and tenders with incomplete information or weak stats are discarded.

  6. Types of Tender: * Invited Tender A business gets in touch with a chosen number of suppliers straightaway and requests them to submit a tender to take up the job. This is usually used for, emergency situations, specialist work or for low risk, low value and off the shelf choices.

  7. * In what ways tenders can be issued? EOI or Expressions of interest: This is used to choose the potential suppliers prior to seeking comprehensive offers. RFI or Request for information: This is used in the planning stage to help in defining the project, but, not used to choose suppliers. RFP or Request for proposal: This is used where the project necessities have been defined, but an inventive or flexible solution is required. RFQ or Request for quotation: This welcomes businesses to provide a quote for the facility of particular goods or services. RFT or Request for tender: This is an invitation to tender by public advertisement and is open to all contractors.

  8. These are some of the online website like TenderDetail to get info about construction tenders. You can get more information on the various tenders, global, national or state, from Tenderdetail.com. You can get accurate and up-to-date information on this site.

  9. Contact Us:- Address: 301, Satyam Mall, Nr. Vishweshwar Mahadev Temple, Satellite, Ahmedabad 380015, Gujarat, India. Phone No.: (+91) (79) 6777 6666 WEBSITE:- http://www.tenderdetail.com/

  10. THANK YOU

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