👉 Tenderization is a legal process that involves assigning or selling an asset to the highest bidder. This typically occurs in the context of real estate transactions, where the seller sells the property to a buyer who agrees to pay a price equal to the market value at which the property would be sold if it were sold on the open market without any restrictions or conditions placed upon the sale (such as a condition of ownership or a restriction on property use). The process is typically conducted by a real estate agent or
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What is the definition of Tenderize? 🙋
👉 Tenderization is a legal process in which an entity, such as a company or government agency, must present their financial statements and other documents for scrutiny by a committee of independent auditors. This process allows the auditor to assess the accuracy and completeness of the financial statements, as well as the adequacy of management's oversight over the entity's finances. Tenderization is often used in business transactions where the company or government agency must present their financial statements to ensure that they are accurate and complete.
