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Dita Posted 21 years ago
Vocabulary

Tender bid

Dears,

can you please explain me "TENDER BID".

thanks

Dita
  

Top answer

When someone wishes to procure a service or a supply of something or has something to sell they can "put it out to tender". This means they invite offers to supply the service or goods or buy the goods/land. If you wish to supply or buy you put in a "bid".

— Forbes

  • When someone wishes to procure a service or a supply of something or has something to sell they can "put it out to tender".
  • This means they invite offers to supply the service or goods or buy the goods/land.
  • If you wish to supply or buy you put in a "bid".
  • Usually, but not always, the lowest bid is accepted in the case where the tenderer wants something doing or suplying and the highest where he is selling something.
  • If it is an "informal tender" neither party is bound by the submitting of or acceptance of a bid.
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5 Answers
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When someone wishes to procure a service or a supply of something or has something to sell they can "put it out to tender". This means they invite offers to supply the service or goods or buy the goods/land. If you wish to supply or buy you put in a "bid". Usually, but not always, the lowest bid is accepted in the case where the tenderer wants something doing or suplying and the highest where he
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A written offer to contract goods or services at a specified cost or rate; a bid.
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what to know what is a tender bid and how can u make your own tender
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Read the first two responses in this thread.
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