What is a Tender?

‘Tender’ usually refers to the process by which government and other institutions invite bids for large projects that must be submitted within a finite deadline. In India, projects over a certain value have to be publicly notified through tender notices, which are advertised through all-India newspapers, trade journals, departmental publications and notice boards, and now on the Internet. Interested suppliers, vendors, agencies, etc. can submit their quotations by a predefined deadline to bid for the business.

Here’s how a posted tender appears to IndiaMART seller.

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