BuildingSteps - Tenders

What is a tender?

Tender is a written offer submitted by the contractors in pursuance of the notification (NIT) given to execute certain work or supply of some specified articles or transport of materials at certain rates with the terms and conditions laid down in the tender documents. The tenders are issued to the tenderers (either prequalified tenderers or any tenderer whose job profile matches with the requirement as the case may be) and they are duly filled in and submitted by the tenderers. These are then opened either in the presence of the tenderers or in their absence, in the presence of the client and the consultants. Tenders opened in the presence of the tenderers is known as open tender and opened in their absence is known as closed tenders. A tender becomes a contract when it is an agreement enforceable by law. A contract must have the following in the Notice Inviting Tender (NIT) of the tender document - the names of the parties involved to contract, the name of the project, the value of the project, the nature of the project, the duration and the location of the project etc. The bidders are the offerors or the promisor and the soliciting party is the offerer or the promisee. Criteria for prequalification Generally for prestigious projects where the stress is more on quality of work done and the capacity of the contractor to take a job of that magnitude and technical excellence prequalification is done of the contractors. In that case the contractors to whom the tenders are issued are all equally competent to take up the job.


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	What is a tender? Tender is a written offer submitted by the contractors in pursuance of the notification (NIT) given to execute certain work or supply of some specified articles or transport of materials at certain rates with the terms and conditions laid down in the tender documents. The tenders are issued to the tenderers (either prequalified tenderers or any tenderer whose job profile matches with the requirement as the case may be) and they are duly filled in and submitted by the tenderers. These are then opened either in the presence of the tenderers or in their absence, in the presence of the client and the consultants. Tenders opened in the presence of the tenderers is known as open tender and opened in their absence is known as closed tenders. A tender becomes a contract when it is an agreement enforceable by law. A contract must have the following in the Notice Inviting Tender (NIT) of the tender document - the names of the parties involved to contract, the name of the project, the value of the project, the nature of the project, the duration and the location of the project etc. The bidders are the offerors or the promisor and the soliciting party is the offerer or the promisee. Criteria for prequalification Generally for prestigious projects where the stress is more on quality of work done and the capacity of the contractor to take a job of that magnitude and technical excellence prequalification is done of the contractors. In that case the contractors to whom the tenders are issued are all equally competent to take up the job.