Addendum is an additional information about tender or any change or clarification to the tender document. This is provided to all respondents (potential suppliers) who have registered with the buyer during the time between issuing the tender and the closing date.
Awarded Tenders (known as contracts) is the issue of an order or contract to a supplier as a result of a competitive tendering/bidding process. Differs from a Closed Tender in that it has been both closed and awarded.
A Bid is the quote, tender, response document submitted by a supplier interested in supplying goods and/or services to the buyer (the organisation that put out the tender).
A list of companies or individuals who have submitted a bid for a particular call document.
Business opportunities can be defined in different ways as the term means different things to different people. Simply, a business opportunity involves the sale or lease of any product, service, equipment etc that will then enable the purchaser-licensee to begin a business.
Buyers are Issuers, Buyer or Procurers. Individuals who undertake transactional procurement and exercise purchasing responsibility for goods and services. The buyer is the organisation that puts out the tender (the Supplier is the person who responds to the tender).
A legally binding agreement entered into between a Buyer and Supplier. Contract can be also referred to as Awarded Tenders.
Respondents or Suppliers whose offer has been accepted by the Buyer.
Standards or system to analyse or to rank importance. These are used to assess offers and compare alternatives put forward by respondents to a request. The evaluation criteria is an important part of a response to tender as the buyer will make a shortlist based on this.
Potential suppliers interested in, and capable of, delivering the required goods or services will be required to provide a EOI. Potential suppliers are asked to provide information on their capability to do the work. It is usually the first stage of a multi-stage tender process.
When high value public sector contracts (tenders) are advertised, they usually start with asking parties interested in bidding to write and express their interest in bidding. Often known just as EOI (see Expression of Interest).
ITRI provides an opportunity for contractors and suppliers to provide information about the goods and services they supply that may be relevant to the project/work. See Invitation to Tender above.
The paper or electronic documentation issued to organisations invited to tender for a contract. Typically it includes a background, rules of tender, contract specification, questions or information required and a draft contact. This can also be expressed as Invitation for Bid - IFB, Invitation for Tender - IFT or Invitation to Bid - ITB.
In simple terms a ITT is an invitation to another person to make an offer to contract. An invitation to treat is an invitation for customers to submit an offer, and indicates a willingness to deal.
An offer is usually known as a bid or a response. This is the Supplier's offer to supply the requested goods and/or services to the Buyer (Tender Issuer).
Open or public tender is the process of a Buyer publicly inviting offers to supply required goods or services, as opposed to a private request of just a few potential suppliers.
A supplier, who has an account on a platform, can register as a Plan Taker for the bids that are of interest to them. There may be a document fee associated with some bid opportunities.
Tender advertised to the public market.
Also referred to as procurers or any organisation that releases or advertises a request to purchase goods and/or services.
Refers to a document in the form of an offer to supply goods and/or services; usually in response to a Request for Quotation.
Similar to Expression of Interest (EOI). It is used to identify suppliers interested in, and capable of, delivering the required goods or services. Potential suppliers are asked to provide information on their capability to do the work.
Notice that grants are available to fund certain types of programs. RFAs usually released by a government agency or non-profit organisation and usually outline what types of programs are eligible, what the expectations are and how applications are submitted and reviewed.
A request for information to gain a more detailed understanding of the supplier market and the range of solutions and technologies that may be available. It may be used to develop documentation for a future tender.
A process of inviting offers to supply goods and/or services involving simple documentation.
A process of inviting offers to supply goods and/or services. An RFT can follow an RFI or EOI process and will usually include documentation detailing the specific requirements of the Buyer.
The requirements specified by Buyers. These are used to evaluate bid responses.
Someone who has submitted a bid response or offer in response to a Request.
A service is an intangible product. Services is the whole of the services provided or performed by a contractor under a contract and any variations provided for by the contract, and includes all and any goods, materials, plant, machinery or equipment supplied, provided or used by the contractor.
A subcontractor is a person who is hired by main contractor to perform a specific task as part of the overall job or contract.
Subcontractor Requests are requests from Buyers/main Suppliers who are seeking quotes and prices from suppliers in relevant service industries to assist with specified work/projects. Suppliers are usually qualified/licensed and are required to prepare quotations.
The person or organisation seeking to supply goods and/or services in response to a Buyer/Purchaser request.
It is an organisation's response to a request for information or pricing related to the supply of goods and services from another organisation. A tender is put into a document in the form of an offer to supply goods and/or services.
The Supplier or interested party submitting a tender in response to a RFT (Request for Tender).
The estimated total value (including extensions) of the contract for the entire life of the contract.
The period of time for which a tender will remain open for consideration and acceptance by the Buyer.
A verbal process of inviting offers to supply goods and/or services from potential suppliers.
A written or electronic process of inviting tenders to supply goods and/or services involving simple documentation.