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What is a Tender?
A construction tender, also known simply as a tender, is a formal process in which contractors bid to complete a construction project based on specific requirements and criteria provided by the client or project owner. The tender typically includes details such as the scope of work, specifications, schedule, and budget constraints. Contractors interested in undertaking the project submit their proposals or bids outlining how they plan to fulfil the requirements and at what cost. The client then evaluates the bids and selects the contractor that best meets their needs in terms of qualifications, price, and other factors.
Tender Adjustments
When tenders are published, the tendering bodies are obliged to provide all relevant information for the planned project. This includes specifications , plans, documents and a detailed project description. If a change occurs during the ongoing tendering process, the contracting authority must inform all potential bidders.
Public and Restricted Tenders
The definition of a public tender is a procurement procedure that is aimed at an unlimited number of companies. In principle, anyone who is interested in the project can take part. In restricted tenders, the contracting authority invites a few selected applicants to submit a bid. While open tenders are the norm, restricted tenders are only possible under certain conditions.
Publication of Tenders
Public contracting authorities have various options for publishing calls for tenders. Journals and specialist magazines are suitable for this, for example. But they can also advertise projects by publishing them on the internet portals such as tender software.
