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Salient Features of The Tendering System

The tendering process usually is only used for contracts that are substantial in size and scope. For example, construction tender in Ethiopia and other parts of the world are often floated when large townships, buildings, and other structures are required to be developed.

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Salient Features of The Tendering System

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  1. Salient Features of The Tendering System

  2. Introduction Tenders are floated around the world to invite bids for any large project or procurement contract. An organization floats tenders featuring the specifications and a brief outline for a project in question, so as to invite bids from competent and qualified contractors working in that sector. The tender bids are ultimately evaluated on the basis of price and quality, and the ultimate contract is awarded to the company quoting the lowest price for the best product. Right from construction tenders in Ethiopia to irrigating tenders in India, tenders belonging to various regions and industries typically share certain salient features. Some of these features have been mentioned in the following slides.

  3. Deadline:- In the case of the tendering process, all interested contractors must submit their bids within the mentioned deadline. Any bid submitted after this date is usually not taken into consideration. Tenders that are to be floated in the future are usually advertised extensively in multiple mediums for quite a substantial period of time, so as to provide all the interested contracts a chance to submit their bid for the project. The tendering system demands punctuality on the part of all the concerned parties.

  4. Registration:-

  5. Evaluation:- The bids submitted for the tenders are primarily evaluated on the basis of quality and price. Hence, the company quoting the lowest amount for the highest quality of products is generally awarded the final contract, without any kind of further negotiations. This impartial emphasis on the value for money encourages fairness and competition and enhances the efficiency level of the system. This process has absolutely minimal opportunities for nepotism and favoritisms.

  6. Scope:- The tendering process usually is only used for contracts that are substantial in size and scope. For example, construction tender in Ethiopia and other parts of the world are often floated when large townships, buildings, and other structures are required to be developed. Usually, a great amount of investment is involved in such projects as well.

  7. Evaluation and Selection:- Like any organizational process, a tendering cycle must be overseen diligently to ensure proper and fair execution. When executed with due care, the tendering system turns out to be extremely beneficial for both − the buyer and the seller.

  8. Contact Us:- Toll Free Number: +91- 96190 81847 Website: www.biddetail.com

  9. Thank You !

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