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. For projects or procurements, most institutions have a well-defined tender process, as well as processes to govern the opening, evaluation, and final selection of the vendors. This ensures that the selection process is fair and transparent. When it comes to tender offers for takeover attempts, the conditions of the offer are clearly listed and include the purchase price, the number of shares requested, and a deadline for a response.
Tender usually refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline.
Download our brochure