Tendering and Bidding
Tender and bid are terms commonly used in the procurement process for construction services. A tender is a document issued by a client or organization seeking to contract a construction company for specific services. The contractors then respond to the tender with a proposal called a bid, which includes information such as the cost of the project, the contractor's equipment and qualifications, and whether the contractor meets the required contract conditions.
The client or organization then evaluates the bids and selects the most qualified contractor to award the contract to. Tender and bid writing refers to the process of preparing and submitting a bid in response to a tender invitation. It is important for the bid to be well-written and submitted within the specified timeframe in order to increase the chances of being selected for the project. Bidding is the process of expressing interest in a project through a written proposal, and it ensures that construction projects are less risky for contractors and more predictable for clients.
The successful bidder and the client then enter into a contract agreement to ensure the project is completed within the agreed upon terms.