A Tender information board is a committee or institution involved in the Government procurement procedure. It formulates requirements for the intended purchase of goods or services, compiles these formulations in a tender document, and hands these documents out to interested suppliers, usually for a fee.
What are government tenders?
Tender usually refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline. The term also refers to the process whereby shareholders submit their shares or securities in response to a takeover offer.
How many types of tenders are there?
3 Types of Tendering Methods in Construction. There are three types of tendering methods in construction – by open tendering, selective tendering, or by negotiation.