Tender Process - A Complete Procurement Guide Online

Tender Process A Complete Procurement Guide Online

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Introduction

Tendering is a well-defined system through which government organizations as well as private companies invite bids for projects that need to be completed within a definite cut-off date and need a substantial sum of investment. Even though the components of several tenders such as construction, electrical, energy, power and drip irrigation tenders may differ, the major steps included in the process stays almost the same. Upcoming slides talk about the steps that the interested investors would require to go through in the process of tendering.

Sourcing contracts

It is important to source contracts actively depending on the geographical location and industry that the organization can work in. This information can be obtained through any dependable and well-known online portal that offers up to date and accurate details on the complete range of tenders that are afloat. When identifying the contracts, vendors should ideally consider the experience of their firm, their turnover as well as the relevant certifications and affiliations that they will need to show when submitting the proposal. It is very important that they not only take into account their ability to put in a compliant bid, but also evaluate their chances of actually securing the contract.

Expression of interest in submitting a bid The vendors will have to let the buyers know that they are interested in submitting a bid. After the expression of interest has been submitted, more documentation shall be issued to them in the form of pre-qualification questionnaire (PQQ), or the invitation to tender (ITT), as per the company policies of the buyers.

Pre-qualification questionnaire In this step the under-qualified vendors who are taking part in the tendering procedure are eliminated, so as to reduce the number of vendors bidding for the contract.

Invitation to tender

The vendors who have passed the pre-qualification questionnaire (PQQ) stage would get the ITT or invitation to tender. The ITT basically requests a proposal for what the vendors can do in order to fulfill the contract competently. Here the vendors need to focus on their unique selling proposition (USP) and key areas of expertise.

The Best Portal To take part in any tender, whether they are construction, electrical, energy or drip irrigation tenders, interested vendors should browse through the renowned online portals offering comprehensive information about the national and international tenders that may be currently afloat.

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