Value for Money: From the perspective of the client, tenders offer the greatest value for the amount of money spent. As most tender documents are opened and evaluated in a public process, I think that there remains little room for nepotism or favoritism of any kind. In other words, the firm offering the highest quality product or service at the lowest price point would win the contract. No Nepotism: Tenders or bids are evaluated on the basis of certain predetermined criteria, such as price, quality and value for money.Some of the key benefits and advantages of the tendering process are as follows: Before they are floated by the client, tenders are extensively advertised in a variety of media, to allow all interested suppliers an opportunity to bid for the project.It ends with the public evaluation process, following which one of the firms that submitted a bid wins the project or contract.The tendering process begins with an invitation to tender or a request for tender (RTF).After the deadline has passed, all bids are evaluated by the client on the basis of a set of predetermined criteria such as price and quality. The bid must include all the required and relevant details about the materials to be used, the expected cost of the project, etc.All potential contractors and suppliers and must submit their bids within the deadline decided on by the client. Some of the most important characteristics of tenders, in my opinion, have been listed below: Usually, most of these projects involve a significant sum of money.
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