Based on the number of shares tendered and the prices specified by the tendering shareholders, the company will determine the lowest price per share within the range that will enable the company to purchase 500of its shares (or a lower amount if the offer is not fully subscribed) that are properly tendered. The whole process is done by competitive tendering. The laundry contract was awarded to the company that had offered the lowest price in the tendering process. Tendering usually refers to the process whereby governments and financial institutions invite bids. Definition of tendering in the Definitions.
Meaning of tendering.
What does tendering mean? Information and translations of tendering in the most comprehensive dictionary definitions resource on the web. Tender definition is – marked by, responding to, or expressing the softer emotions : fon loving.
How to use tender in a sentence. An invitation to tender (ITT, otherwise known as a call for bids or a request for tenders ) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been previously assessed for suitability by means of a supplier questionnaire (SQ) or pre-qualification questionnaire (PQQ). Tendering Based on the detailed build specification and an additional set of requirements , Maritime Projects will draw up the tendering documentation for you. This documentation will be used to start the tendering process, leading to quotations from several parties.
Procurement is the process of finding and agreeing to terms , and acquiring goods , services , or works from an external source , often via a tendering or competitive bidding process.
Procurement generally involves making buying decisions under conditions of scarcity. Merriam-Webster Thesaurus, plus antonyms and near antonyms. Find another word for tendering. He tendered the meat in his special marinade before throwing it on the grill.
Synonyms for tendering in Free Thesaurus. Antonyms for tendering. Tendering Center is a web-base collaborative procurement platform designed to facilitate the full tendering process for both tenders and bidders within the private sector and across multiple sectors and industries. Initiating step of a tendering process in which qualified contractors are invited to submit sealed bids for construction or for supply of specific and clearly defined goods or services during a specified timeframe.
Overview of tendering in Canada: Contract A and Contract B The Supreme Court of Canada has outlined the tendering process. An owner, the party requesting the bids for a project, makes two offers. The first offer is to consider the bids it receives. New Members Join Match Every Day.
Start Something Great. Everyone Knows Someone Who’s Met on Match. Commerce) commerce a formal offer to supply specified goods or services at a stated cost or rate 6. EXAMPLES FROM THE WEB FOR TENDERING She stooped and raised the grape-basket in her han tendering it to Teola.
Then Darrin took out his card case, tendering his card to the stranger.
The reward which virtue was tendering to him seemed unmixed bitterness. It is usually practiced by governement institutions. Objective of tendering process is to eliminate favoritism and corruption in awarding works to construction companies. By the help of tender, client can compare different prices quoted by various contractors for a work.
It makes an offer for the supply of goods or services. In construction, the main tender process is generally for the selection of the contractor that will construct the works. Tendering is the process used by the Council to invite suppliers to supply goods or services to the Council. Gwynedd Council tenders for any goods, services or works which total over £5000.
The aim is to create an effective, fair and transparent competition between companies to ensure value for money for the Council and the taxpayer. For more information, see Creation of a Tendering Plan. You can save the tendering plan as a tendering profile that you can use for tendering processes in the future.
Publish the first freight RFQ or all freight RFQs, depending on the tendering type you have selected for your tendering step.