Question

Define the term tendor?​

Answer 1

Answer:

ᴀ ᴛᴇɴᴅᴇʀ ɪs ᴀɴ ɪɴᴠɪᴛᴀᴛɪᴏɴ ᴛᴏ ʙɪᴅ ғᴏʀ ᴀ ᴘʀᴏᴊᴇᴄᴛ ᴏʀ ᴀᴄᴄᴇᴘᴛ ᴀ ғᴏʀᴍᴀʟ ᴏғғᴇʀ sᴜᴄʜ ᴀs ᴀ ᴛᴀᴋᴇᴏᴠᴇʀ ʙɪᴅ. ᴛᴇɴᴅᴇʀɪɴɢ ᴜsᴜᴀʟʟʏ ʀᴇғᴇʀs ᴛᴏ ᴛʜᴇ ᴘʀᴏᴄᴇss ᴡʜᴇʀᴇʙʏ ɢᴏᴠᴇʀɴᴍᴇɴᴛs ᴀɴᴅ ғɪɴᴀɴᴄɪᴀʟ ɪɴsᴛɪᴛᴜᴛɪᴏɴs ɪɴᴠɪᴛᴇ ʙɪᴅs ғᴏʀ ʟᴀʀɢᴇ ᴘʀᴏᴊᴇᴄᴛs ᴛʜᴀᴛ ᴍᴜsᴛ ʙᴇ sᴜʙᴍɪᴛᴛᴇᴅ ᴡɪᴛʜɪɴ ᴀ ғɪɴɪᴛᴇ ᴅᴇᴀᴅʟɪɴᴇ.

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Answer 2

Answer:

A tender is an invitation to bid for a project or accept a formal offer such as a takeover bid. Tendering usually refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline.

Explanation:

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