Tender usually refers to the process whereby governments invite bids for their daily expenditure, projects and works that must be submitted within a finite deadline mainly know as Government Tenders, RFP, RFQ, Tender Notice etc. Bids are the response against Tenders in specific format where bidder will offer their Prices for particular Product, Services & work for which tender been invited. If the buyer doesn’t have any idea of what kind of and what level of response the tender would attract, expression of interest would fulfill this requirement. In this, the authority gets to know the total number of interested parties, their experience type and the bidders get an opportunity to interact with the buyer without having to deposit money. Generally this stage is skipped and the objectives are achieved in RFQ stage as mostly the bidder population is known. In RFQ stage, technical experience in particular sector, sub-sector, technology, geography, etc is checked along with ...
