Tendering

Tendering is the process through which organizations invite bids from contractors or suppliers to undertake a specific project or provide goods and services. Typically used by public sector entities and large companies, it ensures fair competition and transparency. Interested parties submit detailed proposals outlining how they plan to fulfill the requirements and at what cost. The organization then evaluates the submissions based on criteria like price, quality, and experience, ultimately selecting the most suitable bid. This systematic approach helps ensure projects are completed efficiently and within budget.