tendering

tendering
tendering ten‧der‧ing [ˈtendərɪŋ] noun [uncountable] COMMERCE
the act or practice of making offers in the form of tenders:

• The Government is introducing competitive tendering (= when several companies make tenders to try and get work ) for local leisure facilities.

colˌlusive ˈtendering also ˌdummy ˈtendering, ˌlevel ˈtendering COMMERCE
when companies making tenders secretly share information or make arrangements among themselves in order to control the result:

• banned practices such as price fixing and collusive tendering

* * *

tendering UK US /ˈtendərɪŋ/ noun [U]
COMMERCE the process of choosing the best or cheapest company to supply goods or do a job by asking several companies to make offers for supplying the goods or doing the work: »

The whole process is done by competitive tendering.

»

The laundry contract was awarded to the company that had offered the lowest price in the tendering process.

See also COLLUSIVE TENDERING(Cf. ↑collusive tendering)

Financial and business terms. 2012.

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Look at other dictionaries:

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