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A Tender board is a committee or institution involved in the Government procurement procedure. It formulates requirements for the intended purchase of goods or services, compiles these formulations in a tender document , and hands these documents out to interested suppliers, usually for a fee.
The Tender Board of the Kingdom of Bahrain, based in Manama, regulates procurement and undertakes procurement activity for the kingdom's public bodies. [61] The Board was established in 2003 under the directives of His Majesty King Hamad bin Isa Al Khalifa. [62] Bahrain has observer status with respect to the Government Procurement Agreement. [55]
Before these ships were mass-produced, the main way to board a larger ship (mainly ocean liners) was to board a passenger tender. Passenger tenders remained based at their ports of registry, and when a ship came through the area, the tender would tie up with the ship and embark passengers on an elevated walkway.
A tender notification is the publication and circulation of procurement opportunities by the procuring entity in various media like: Newspapers, purchasers's own website and government tender bulletin etc. The main objective of wider publicity is to make these opportunities available to a wider supplier community, increase the competition and ...
A tender announcement from the Indonesian Ministry of Finance. An invitation to tender (ITT, also known as a call for bids [1] or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been ...
Under an EPC contract, a contractor is obliged to deliver a complete facility to a developer who needs only "turn a key" to start operating the facility; hence EPC contracts are sometimes called turnkey construction contracts.
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The tender is treated as an offer to do the work for a certain amount of money (firm price), or a certain amount of profit (cost reimbursement or cost plus). The tender, which is submitted by the competing firms, is generally based on a bill of quantities , a bill of approximate quantities or other specifications which enable the tenders to ...