Generally Tenders are Floated by Government as it is a Mandatory Requirement for them. Generally Government floats sell tenders it is a mandatory requirement for them.
Why Tenders?
Tenders are open invitation to buy or sell goods/services/contracts. Those who are interested in supplying what has been advertised can respond to a Tender & Submit their best competitive offer. The Best Aggressive offer is generally selected & the contract is awarded to L1 Bidder.
Types of Tenders?
There are assorted types of Tenders, some of them are listed below;
Open Tender :- In Open Tender anyone can participate. The participant has to ensure that they fulfill the minimum pre-qualification criteria particular in the tender document to qualify. If they do not meet the pre qualification criteria, their bid will be rejected & they will lose the document fees they have paid. It is compulsory that open Tender is advertised in newspaper.
The Lowest Bidder or L1 Generally wins the Contract.
Limited or Closed Tender :- In Limited Tenders, only pre qualified or empanelled bidders are allowed to participate. As Limited Tenders are not advertised in newspapers, other Bidder Generally do not come to know that such tender is floated. The Lowest Bidder or L1 Normally wins the Contract.
RFP or Request for Proposal :- In RFP a Company is supposed to submit only the Technical offer. Indicative price bid can also be invited, if so required by Buyers. Once RFP round is over, RFQ or Request for Quote can be invited from Shortlisted Bidders.
RFQ or Request for Quote :- In RFQ, a Company has to offer their best offer & on the basis of this decision the Contract is Awarded.
For example if Someone wants to buy 1 Window AC, only RFQ is floated because no Technical pre-qualification is required as it is a standard product.
Singe Envelope Bidding :- In Such Tender both Technical Bid & Price bid is submitted in a same envelope.
Both Technical & Price Bid is opened simultaneously & bid is Awarded on the spot.
Please Visit http://www.tradereader.com to view 1 Million Tenders.
Tenders are open invitation to buy or sell goods/services/contracts. Those who are interested in supplying what has been advertised can respond to a Tender & Submit their best competitive offer. The Best Aggressive offer is generally selected & the contract is awarded to L1 Bidder.
Types of Tenders?
There are assorted types of Tenders, some of them are listed below;
Open Tender :- In Open Tender anyone can participate. The participant has to ensure that they fulfill the minimum pre-qualification criteria particular in the tender document to qualify. If they do not meet the pre qualification criteria, their bid will be rejected & they will lose the document fees they have paid. It is compulsory that open Tender is advertised in newspaper.
The Lowest Bidder or L1 Generally wins the Contract.
Limited or Closed Tender :- In Limited Tenders, only pre qualified or empanelled bidders are allowed to participate. As Limited Tenders are not advertised in newspapers, other Bidder Generally do not come to know that such tender is floated. The Lowest Bidder or L1 Normally wins the Contract.
RFP or Request for Proposal :- In RFP a Company is supposed to submit only the Technical offer. Indicative price bid can also be invited, if so required by Buyers. Once RFP round is over, RFQ or Request for Quote can be invited from Shortlisted Bidders.
RFQ or Request for Quote :- In RFQ, a Company has to offer their best offer & on the basis of this decision the Contract is Awarded.
For example if Someone wants to buy 1 Window AC, only RFQ is floated because no Technical pre-qualification is required as it is a standard product.
Singe Envelope Bidding :- In Such Tender both Technical Bid & Price bid is submitted in a same envelope.
Both Technical & Price Bid is opened simultaneously & bid is Awarded on the spot.
Please Visit http://www.tradereader.com to view 1 Million Tenders.
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