👉 Tendering is a process in which an individual or organization bids for a contract, job, or other opportunity. It involves submitting a bid to the bidder or potential buyer and promises to provide goods, services, or labor in exchange for payment. Tenderers may also be referred to as bidders. The term "tenderizing" refers to the act of bidding or soliciting proposals from interested parties for a contract or project.
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What is the definition of Tendering? 🙋
👉 Tendering is a process in which a bidder submits their offer to the seller for an item or service. The bidder must present their offer and explain why they are willing to pay the price, without making any further offers or negotiations. If the seller accepts the bid, it will be accepted by law as part of the contract between the buyer and seller.
