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Tenders are special procedures to generate competing offers from different bidders looking to obtain an award of business activity in works, supply, or service contracts. The term originates in the use of ship's tenders, small boats that would assist the functioning of a larger boat or ship when arriving at a port of call. When merchant ships were about to arrive at a port, they would post a notice describing the goods they wished to buy or sell. This notice was delivered ahead of the larger ship by a tender (boat), and hence the process became known as tendering (i.e., describing the delivery of offers for buying or selling to facilitate the procurement of goods or services)

Types of tenders

Examples from the public sector

Open tenders, also called advertised or competitive tenders, are open to all vendors or contractors who can guarantee performance. Example: ad and results.

Invited tenders, also called prequalified, short-listed or selective tenders, are only open to selected prequalified vendors or contractors. Example: ad and results.

Examples from the private sector

See also

• reverse auction
• request for proposal
• Public Tendering

External links

• Europeantenders.com Tenders website

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