Bids and Tenders

Bids and tenders are processes used by organizations, often in government or large companies, to procure goods or services. When an organization needs something, it invites suppliers to submit proposals detailing how they would fulfill the need, including pricing and terms. A "bid" typically refers to the offer itself, while a "tender" often refers to the invitation or process for submitting such bids. Evaluating these submissions helps ensure that the organization selects the best option based on criteria like cost, quality, and reliability, promoting transparency and competition.