The Rules Of A Transparent Tendering Process
Tendering refers to presenting or offering a tender. A tender is an unrestricted offer presented to another party to come into agreement of business deal of services or goods at definite costs. To get into contract, a company has to pass through all the contracting procedures.
The first step is by preparation of documents which the interested parties require and it contains the specifications required. All these documentations contain a serial number that the purchasing coordinator uses to ensure that these submitted documents are genuinely from the company.
The documents are then sent to the purchasing coordinator who reviews them and corrects the mistakes that they may have before they are printed. This includes confirmation that all the provisions and the guidelines for these tender are included.
The public tenders are then advertised while the private tenders are distributed. A public tender takes fifteen working days from the date that the advertisement is made. In some cases, the agreement may take a longer or a shorter period of time depending on the necessity of the item that is being tendered.
After all the deadline has passed, the tenders can now be opened in the presence of the public. The bidders send representatives to the process to confirm that the transparency of the process. There are several methods of tendering.
The first method is through open tender whereby the client advertises the tender in the newspaper with the explanation of this project being advertised. In such a request, there are conditions that must be met. Due to the type of responses that this advertisement gets, much of these clients effort and time is vital so as to evaluate all the bidders.
Another way which the contract can be awarded is through selective process which can also be referred to as closed bidding. In this method, a selected group of bidders who have pre-qualified are invited for their bids. This is a fast process because only the right companies are invited.
The most competitive process is invitational tendering. In this process the client accepts bids from a list of pre qualified bidders. This method is time consuming and very expensive but it gives the client value for the money that is being used. It has hence been widely adopted by many companies to source for bidders.
The first step is by preparation of documents which the interested parties require and it contains the specifications required. All these documentations contain a serial number that the purchasing coordinator uses to ensure that these submitted documents are genuinely from the company.
The documents are then sent to the purchasing coordinator who reviews them and corrects the mistakes that they may have before they are printed. This includes confirmation that all the provisions and the guidelines for these tender are included.
The public tenders are then advertised while the private tenders are distributed. A public tender takes fifteen working days from the date that the advertisement is made. In some cases, the agreement may take a longer or a shorter period of time depending on the necessity of the item that is being tendered.
After all the deadline has passed, the tenders can now be opened in the presence of the public. The bidders send representatives to the process to confirm that the transparency of the process. There are several methods of tendering.
The first method is through open tender whereby the client advertises the tender in the newspaper with the explanation of this project being advertised. In such a request, there are conditions that must be met. Due to the type of responses that this advertisement gets, much of these clients effort and time is vital so as to evaluate all the bidders.
Another way which the contract can be awarded is through selective process which can also be referred to as closed bidding. In this method, a selected group of bidders who have pre-qualified are invited for their bids. This is a fast process because only the right companies are invited.
The most competitive process is invitational tendering. In this process the client accepts bids from a list of pre qualified bidders. This method is time consuming and very expensive but it gives the client value for the money that is being used. It has hence been widely adopted by many companies to source for bidders.
If you would like some tendering advice - check out Ways 2 Win The Rules Of A Transparent Tendering Process
Related Articles: