A tender document is a written request sent to potential suppliers to ask for information required for the buyer to then evaluate and select a preferred supplier. Synonyms for tender at with free online thesaurus, antonyms, and definitions. A tender offer is a proposal that an investor makes to the shareholders of a publicly traded company. Tender by belinda mckeon meet your next favorite book. Tender offer definition of tender offer by merriamwebster. What he has produced is that rare specimen indeed a book that is a pleasure to read and that needs to be read by every informed citizen.
Tenderer dictionary definition tenderer defined yourdictionary. The cambridge business english dictionary is ideal for business english students, business studies students and anyone using english in their work. A request for tender rft is a formal and structured invitation to suppliers to submit competitive bids to supply raw materials, products, or services. Bid bond a sum agreed to be paid by a company that wins a contract if the work is not carried. Procurement departments wish to buy something, so they package up the requirements and conditions into a document typically called an rft, rfp or rfq, depending on the. In todays competitive business world, many potential projects and services are put out to tender. In the public sector an official fee is needed to fortify and secure the tender bid engagementwin documents, such a process may be required and determined in detail by law to ensure that such competition for the use of public funds is open, fair and free from bribery and. Glossary of terminology and definitions for business and management. Article or token such as coins or banknotes that serve as means of payment or settling a debt. There are a number of policies known as procurement policies which are used as guides on how to make decisions on which tender. The tendering process page 2 what it is and how to prepare these processes may seem complicated to any businesses being involved for the first time, but they are designed to be structured, welldefined, fair and transparent. A written guaranty from a third party guarantor usually a bank or an insurance company submitted to a principal client or customer by a contractor bidder with a bid.
Tender documents are prepared to seek tenders offers. Definition of tender tender is an offer to perform a condition or obligation coupled with the present ability of immediate performance, so that were it not for the refusal of cooperation by the party to whom tender is made, the condition or obligation would be immediately satisfied. Buy products related to business dictionary products and see what customers say. A tender is an offer to do or perform an act which the party offering, is bound to perform to the party to whom the offer is made. Sourcing and tendering sourcing seeks to find, evaluate and engage suppliers to achieve cost savings and best value for goods and services which can be done through a tender process. Define requirementsselect and quantify medicines and supplies. Tender definition and meaning collins english dictionary. That is numerous potential companies are provided with the opportunity to bid for the work. Describes a noun or pronounfor example, a tall girl, an interesting book, a big house. The phrase tender mercies comes from the bibles book of psalms 25. A tender and a bid technically mean the same thing in the procurement context.
A national procurement and fulfilment business focussed on meeting the. Change your default dictionary to american english. Legal tender meaning in the cambridge english dictionary. In some cases, the tender offer may be made by more than one person, such as a group of investors or another business. Form of contract a standard form contract is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favourable terms and. As i hinted above, the book has grown rather than that it has been made. A tender is a formal offer to supply goods or to do a particular job, and a statement of the price that you or your company will charge. It is essentially the same as what is known especially in the u. A tender is a submission made by a prospective supplier in response to an invitation to tender. It contains short, clear explanations of words that an average professional might use or encounter in a daytoday work environment including buzzwords, jargon, slang, and foreign words. Edi, supply chain, and eprocurement terminology is a quick reference for all business and computer professionals. In an open book contract, the buyer and seller of workservices agree on 1 which costs are remunerable and 2 the margin that the supplier can add to these costs. The project is then invoiced to the customer based on the actual costs incurred plus the agreed margin.
This intangible asset of an organisation is the difference between market and book value e. Tender offers are a commonly used means of acquisition. English translation of atender collins english dictionary. Tender dictionary definition tender defined yourdictionary. Tender is one of those books that just has all the intangibles. It has been said that the first tender a business is. A debt tender offer is when a firm retires all or a portion of its debt securities by making an offer to its debtholders to repurchase a predetermined number of bonds at a. Tender definition of tender by the free dictionary. The tender ship focuses on the intersection of the most vital questions that confront american society or indeed any modern, industrial society, however defined. Everyday low prices and free delivery on eligible orders. A bid bond ensures that on acceptance of a bid by the customer the contractor will proceed with the contract and will replace the bid bond with a performance bond. The standard steps in the normal tender cycle are 1. English translation of atender the official collins spanishenglish dictionary online.
For example, a stockholder may decide to tender shares to the issuing firm as part of the companys buyback. Later on in the book, her and her father realize hey need each other to survive after they get lost. Tender noun definition and synonyms macmillan dictionary. Tenderbooks supports independent artist publications, artist research and original print editions, along with a series of late night events and publication laun tenderbooks is currently closed. Tender definition for englishlanguage learners from. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. In other words, it is one of those books that makes sense for people in the. Definition of tender written for english language learners from the merriamwebster learners dictionary with audio pronunciations, usage examples, and countnoncount noun labels. Invitation to tender noun meaning, pronunciation and more by. Definition and synonyms of tender from the online english dictionary from macmillan education. This wideranging and authoritative dictionary contains 7,000 entries 200 new to this edition covering all areas of business and management, including marketing, organizational behavior, business strategy, and taxation. Easytouse free business glossary with over 20,000 terms. A request for tenders rft is a formal, structured invitation to suppliers to submit a bid to. The definition of tender is easy to chew or being delicate or soft in action.
Definitions of the most commonly used terms in tendering. Law an offer to pay the amount due under a debt or obligation. Kate baade, michael duckworth, david grant, christopher holloway, jane hudson, john hughes, jon naunton, jim scrivener, rebecca turner, nina leeke and penny mclarty. The book tender, by valerie hobbs is about a 15 year old girl named liv who has lived with her grandmother her whole life. Because this is a public and open process, laws were created to govern the process to ensure fair competition among bidders. It makes an offer for the supply of goods or services. To tender is to invite bids for a project or accept a formal offer such as a takeover bid. Law to offer payment or performance pursuant to an obligation. Search the worlds most comprehensive index of fulltext books. If a company wins a tender, their offer is accepted. A business tender is an offer to do work or supply goods at a fixed price. These methods, however, have not yet been proven for pharmaceutical procurement.
Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. The term is from jerry b harveys book the abilene paradox and other. The offer is to tender, or sell, their shares for a specific price at a predetermined time. In business law, a tender offer is an invitation to shareholders of a corporation to tender. Tender meaning in the cambridge english dictionary. Tender article about tender by the free dictionary. We are operating our online store as normal and will ship your orders as speedily as we can. A tender document is the basis of a tendering process which helps a business select qualified and interested suppliers based on certain contract conditions. If a contract is put out to tender, formal offers are invited.
Definition of tender showing gentleness, kindness, and affection, of food. Tradetendertender2 verb 1 transitive formalgive to formally offer or show something to someone as company secretary, you must tender the proposal. Tender offer definition, how it works and regulations. Companies tendering for business can be tempted to agree jointly not to go in.
Over 100,000 english translations of spanish words and phrases. The tender or bid process is designed to ensure that the work to be done is given out in a fair way. Compilation of various business words along with their meaning. Want to know how to apply for a tender in south africa.972 507 937 1069 397 1079 1003 869 1334 1352 15 946 1258 866 1239 13 1162 827 318 1464 1304 568 841 1244 1319 22 681 321 1060 497 917 19 38