What is a tender?

A tender is a document issued to potential contractors, suppliers or service providers by means of competitive bidding, request for quotations, comparison, etc., which contains detailed information and requirements of the procurement needs, as well as the terms and conditions of the contract.

Tenders usually include solicitation documents, tenders and notices of completion.

Tenders allow bidders to seek the most competitive offers and proposals and to select the most suitable contractor, supplier or service provider to enter into a contract with them. Tenders are also an important tool to safeguard the efficient use of public **** funds and the fairness and impartiality of the tender.