Tender

A Tender is a formal offer submitted by a contractor or supplier in response to an invitation to bid for the opportunity to undertake specific construction work or supply goods and services. The tendering process begins when a client issues a tender request outlining the project requirements, specifications, and conditions. Interested parties then prepare and submit their bids, detailing how they propose to meet the project’s needs, including timelines, costs, and their approach to the work. This competitive process is designed to ensure fairness and transparency, allowing the client to evaluate and select the proposal that offers the best value for money. It’s a critical step in the procurement process, leading to the awarding of contracts for construction projects.