What is Tendering?

Tendering is the process of offering a proposal to provide goods or services to a buyer. It involves submitting a detailed bid outlining the scope of work, timelines, and pricing for the project. The purpose of tendering is to allow potential suppliers to compete for the business, ensuring that the buyer receives the best value for their money.

The tendering process typically includes several steps:

1. Invitation to Tender (ITT): The buyer issues an ITT, outlining the requirements of the project and inviting potential suppliers to submit a proposal.
2. Proposal Submission: Suppliers submit their proposals, which include detailed information about their products or services, pricing, and timelines.
3. Evaluation: The buyer evaluates the proposals, assessing their compliance with the requirements and their value for money.
4. Shortlisting: The buyer shortlists the most suitable suppliers based on the evaluation criteria.
5. Negotiation: The buyer negotiates the terms of the contract with the shortlisted suppliers.
6. Contract Award: The buyer awards the contract to the successful supplier.

Tendering is a common practice in many industries, including construction, IT, and government procurement. It allows buyers to compare offers from multiple suppliers and choose the best one for their needs and budget.