Explain the procedure of sale through tenders.
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In businesses just like contracts are given to certain parties by clients, tenders are also given.
This happens by the government. They allow private sector companies to come in and take orders from them.
These companies come up and give bids. Whichever bis wins gets the tender offer.
This is known as a tender sale.
They do the work of the government. For example, In the construction business, government may give tender to a private company who will take the tender and then do their work. They will provide the product or the service whichever is needed.
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