competitive tendering

Competitive tendering is a process where organizations invite multiple suppliers or contractors to submit proposals or bids to provide a good or service. Each interested party prepares a detailed offer, including pricing and terms. The organization then reviews all submissions and selects the most suitable one based on factors like cost, quality, and reliability. This process encourages fair competition, transparency, and value for money, ensuring that the organization gets the best possible outcome while providing opportunities for various suppliers to compete for business.