Tender Management is the process of planning, selecting and publishing bids efficiently, keeping a clear audit trail that can be used to determine best practice for future contracts.
The original should be posted/couriered/given in person to the Tender Inviting Authority, within the bid submission date and time for the tender. The bidder has to submit the tender document(s) online well in advance before the prescribed time to avoid any delay or problem during the bid submission process.
The 4 main types of tenders are:
- Negotiated tender.
- Open tender.
- Selective tender.
- Single-stage and two-stage tender.