CĬlosing Date – The date and time by which a tender proposal needs to have been submitted. It usually contains cost or time benefits compared to what was requested Īward Criteria – A list of criteria which the tenderer must meet to win the contract Bīid – As part of the Bidding Process, it is a document containing information on the goods or services to be delivered, their price and relationship to the requirements needed to be met īidding – In business, it is the process of selecting suitable subcontractors to fulfil projects or to acquire goods īid Management – The process of overseeing the process of constructing, publishing a bid, then selecting suitable vendors and/ or providers īrainial – a Smart Tendering Platform to help organizations to reduce the time, resources and money spent responding to tenders and to gain a higher quality, win rate and profitability īuyer – An entity manifesting the intention of purchasing goods or services.
AĪlternative Bid – An offer to a Request for Proposal which differs from the stated criteria. The alphabetical order may be incorrect due to translation. Please note that this blog post is written in English and may not be properly translated into Dutch.
#TENDER MANAGEMENT DEFINITION PROFESSIONAL#
If you’re just curious about this world, or if you’re a professional simply looking to refresh a definition on the go, this article is for you.
In a field as detail oriented as tendering, the sheer number of terms that were birthed to describe its specificities comes as no surprise.
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