Search results
Results From The WOW.Com Content Network
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 ...
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 ...
Classification of product categories into the central procurement strategies. Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. [1]
This eases the RFP review process by preemptively short-listing candidates which meet the desired qualifications. A request for solution (RFS) is similar to a RFP, but more open and general. This allows the vendor or supplier the most flexibility of all RFx in expressing their solution, or their product and service combination.
The term "Contract B" is used to differentiate the actual construction contract from the tender contract or "Contract A". Tied to the concept of "Contract A", Contract B is a place holder in the concept, a marker at the end of a formalized process of equitable treatment of both bidders and owners. [3]
Legal tender, a form of money with a specific legal status; Invitation to tender, a structured invitation to vendors for the supply of goods or services; Procurement, a process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process
A statement of work (SOW) is a document routinely employed in the field of project management. It is the narrative description of a project's work requirement. [1]: 426 It defines project-specific activities, deliverables and timelines for a vendor providing services to the client. The SOW typically also includes detailed requirements and ...
E-procurement (electronic procurement, sometimes also known as supplier exchange) is a collective term used to refer to a range of technologies which can be used to automate the internal and external processes associated with procurement, strategic sourcing and purchasing.