11/7/21, 10:10 PM Tender - Definition, What is Tender, and How Tender works?

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The tender is an offer to perform some task or to supply goods at a fixed
price. The contractors will be invited to submit sealed bids for construction Grow Wealth
Mergers &
Acquisitions or for the provision of specifically designed services or goods during a
Trusted by
particular time frame in the initial step of this tender process.
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Accounting Understanding a Tender

Debt India's e-tender process is structured to ensure that the work to be
performed for the government or a specific client is accomplished
Corporate reasonably. For example, some places may have specific procurement
Insurance policies that direct on how to make a decision, and which tender to accept.

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11/7/21, 10:10 PM Tender - Definition, What is Tender, and How Tender works?

An open tender is the main form of tender, followed by both the

government and the private sector. The client advertises the tender offers
in the local newspaper along with the critical information of the proposed
works inviting interested contractors.

Tenders in India
There are various types of tenders, such as open tender, selective tender,
serial tender, negotiated tender, and term tender.

1. Open Tender An open tender is the principal tender procedure

employed by both the private and government sectors. In the local
newspaper, the customer advertises the tender offer along with the key
information of the proposed works and invites interested contractors.

2. Selective Tender Selective tendering is an alternative that has been

developed to address the open tender procedure's limitation. This tender
aims to increase the quality of bids received and ensures that contractors
with the requisite expertise are given the opportunity and submit the bids
needed.

3. Negotiation Tender This is widely used in the engineering and

construction industry, which is the subject of pre-contract and post-contract
negotiations.

4. Term Tender Term tender is normally used on projects which require

enormous maintenance. The contractor would be asked to cover several
specific buildings at multiple locations. This tender is also limited to a fixed
time, and it may demand that the criterion be applied to the client's needs.

Related Terms
Financial Accounting
Financial accounting is a particular type of accounting that includes
a method of documenting, summarising, and reporting the
transactions arising from business operations for a period of time.  

Ratio Analysis
Ratio analysis is a quantitative procedure of obtaining a look into a
firm’s functional efficiency, liquidity, revenues, and profitability by
analysing its financial records and statements.  
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Cost Accounting
Cost accounting is a method of managerial accounting which aims to
capture the total production cost of a business by measuring the 

variable costs of each production phase as well as fixed costs, such
as a lease expense.  

Operating Revenue
Operating revenue refers to the revenue generated by a company
from its primary activities.  

Non-Controlling Interest
Non-controlling interest is also known as a minority interest.  

Annual Budget
Annual budget can be described as a plan laid out for a company's
expenditures for a financial year.  

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11/7/21, 10:10 PM Tender - Definition, What is Tender, and How Tender works?

Recent Terms
treasury stock
Treasury stock or treasury shares refers to the number of shares
that the company wishes to retain with itself.  

Cost, Insurance and Freight (CIF)

CIF is an ‘Incoterm’ developed by the International Chamber of
Commerce.  

Subordinated debt
## Introduction to Subordinated Debt

Subordinated debt is a lax loan or bond that positions below more

senior loans or securities with claims on assets or earnings.  

multiple linear regression

Multiple linear regression, commonly known as multiple regression,
is one of the most common forms of regression analysis.  

simple linear regression

It offers the relationship between two variables, namely the
dependent and the independent variable.  

Indian Council of Agricultural Research (ICAR)

The Indian Council of Agricultural Research (ICAR) is a self-
governing body in India that coordinates agricultural education and
research.  

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