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SERVICE
DEPARTMENT: MARKETING
BATCH: 2013-2015
Introduction:
A tender notice (Request for Proposals or RFP) is a published
advertisement, generally issued by companies or government departments,
inviting the vendors or service providers to make their offers for supply of
goods or services. Sometimes tender notices are also for sale of goods,
especially scrap.
A tender is an offer for the supply of specified goods or the
performance of a specified work at prices and under conditions set out in the
tender notice. A response to a tender notice is expression of interest (EOI)
and becomes legally binding only when the tender is accepted.
(i) Tender Notice
(ii) Tender
(iii) If accepted, results in a contract
Generally, the inviter of tenders gives prescribed forms in which the
tenders are to be made. This form takes care of the details in which the
advertiser is interested. Nowadays it is customary to give a website address
for details of terms and conditions as these cuts down the advertising cost.