Understanding tender terms

Item rate tenders: This where the contractors are required to quote the rates for each item mentioned in the price bid. The quantity to be executed is given in the price bid.

Item rate tenders: This where the contractors are required to quote the rates for each item mentioned in the price bid. The quantity to be executed is given in the price bid.

Percentage rate Tenders:
In this type of tenders, a detailed estimate of the quantity of work to be carried out along with the estimate rates is given in the price bid form. The bidders are required to quote the amount in percentage above or below or at par.

Expression of interest means a business expression indicating an intent to bid.

Green procurement:
Green procurement is an approach to procurement in which environmental impacts play an important role in purchasing decisions, with procurement officers concerned about more than just price and quality. Companies which pride themselves on environmental stewardship and thoughtful care of the environment may use green procurement, among many other tactics, to ensure that they do business in an environmentally responsible way.

E-procurement:
This is the business-to-business or business-to-consumer or business-to-government purchase and sale of supplies, work, and services through the Internet as well as other information and networking systems, such as electronic data interchange and enterprise resource planning.

 

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