Tendering Agreement Definition

See also the serial call for tenders and the fixed-term contract. A one-stage call for tenders is used when all the information necessary to calculate a realistic price is available at the beginning of the award. Potential suppliers are tendered, tenders are prepared and returned, a preferred bidder is selected and, after negotiation, they can be appointed. A more detailed description of the open tendering procedures is available as part of the call for tenders. Contract A is concluded when a “request for offer” is answered in the form of a valid offer, sometimes called a price quote. The owner (person, company or organization that inherits the project) and the bidders enter into as many A contracts as their bids.