Faq About Domestic and Global Tenders

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Faq About Domestic and Global Tenders

What is a Tender?

Tender means an invitation to offer for anitem/items or work. All Public Sector purchases/Contracts in India, overa certain value has to be publicly notified through Tender Notices which are advertised through All India Newspapers, Trade Journals, Departmental Publications and Notice Boards, and now on Internet. An estimated Rs.300 billions (US$ 6.6 billions) worth of equipment and services are procured annually through All India Tenders.

Types of Tenders.

Broadly, there are four types of Tenders: Limited Tendering, Open Tendering, Single Tendering and Verbal Tendering

1.Limited Tendering:This involves issuing Tender to few selected tenders only.

2.Open Tendering:This means that the Tender is open to any supplier who can quote for the materials as per requirements. This is usually done by publishing the Tender Notice in Newspapers/Trade journals/Internet and other bulletins.

3.Single Tendering:Single Tendering means sending the Tender to one particular party.Normally, it is either for an item where there is only one supplier or for an item where the purchaser has developed confidence in one supplier only and would just like to verify the current price,delivery etc. Single Tenders are also sent for items of proprietary nature.

4.Verbal Tendering:Where there is hardly any time to wait for the supplier to quote Verbal Tendering becomes necessary. This could either be done by telephoning the supplier or across the table.

A Tender Notice gives you the following details.

1.Type of Item/Work enquired for.
2.Name and Address of the Tender Authority
3.The Tender Enquiry reference Number/Date
4.The cost and the last date for collection of Bid Document
5.Earnest Money Deposit This deposit is refunded to unsuccessful Tenders
6.Due Date/Time The last Date/Time for submission of Tender papers
7.Estimated cost of Item/Work Mentioned in selected Tenders
8.Any other Instructions/Information

Collection of Bid Documents/Tender Papers:
Interested parties, to collect / Purchase the Tender / Bid Documents on payment / free of cost, as the case may be. Every Tender quotation has to be accompanied by the Tender Documents.

Submission of Offers:
The Quotation has to be submitted along with all other Documents as stipulated by the Tender Authority in the Tender Notice.

For furthur information visit Global Tenders, Domestic Tenders, Govt. Tenders

Article Source: http://articlenexus.com

Tendersworldwide.com is an online portal which provides free information of domestic & global tenders,govt. & private sector tenders. We offer an easy to navigate, user friendly format that you are sure to appreciate. Online tenders,Government tenders www.chiraginfotech.in

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