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.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Tendering — is the acquisition of goods and/or services at the best possible total cost of ownership, in the right quantity and quality, at the right time, in the right place for the direct benefit or use of governments, corporations, or local authorities,… …   Wikipedia

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  • tendering — ten·der || tendÉ™(r) n. bid, offer; overseer, supervisor; car attached to a locomotive for carrying fuel and water v. offer formally, suggest, make a suggestion adj. gentle, soft, delicate …   English contemporary dictionary

  • tendering — noun ( s) Etymology: from gerund of tender (II) : a lessening of the strength of cloth or yarn; especially : a weakening caused by acids during manufacture * * * tenˈdering noun • • • …   Useful english dictionary

  • collusive tendering — ➔ tendering * * * collusive tendering UK US noun [U] (also collusive bidding) LAW ► a situation in which companies share information illegally among themselves when offering to supply goods or services, in order to control the price: »Collusive… …   Financial and business terms

  • collusive tendering — A process in which firms tendering for contracts put out to tender by (typically) public authorities agree to share out contracts between them and/or to fix the price at which bids are to be made. Practical Law Dictionary. Glossary of UK, US and… …   Law dictionary

  • Compulsory Competitive Tendering — (CCT) England, Wales An initiative whereby local authorities were forced to open up in house services, such as refuse collection and road maintenance, to private competition in the 1980s in an effort to cut costs and improve value for money. The… …   Law dictionary

  • Information Services Procurement Library — The Information Services Procurement Library (ISPL) is a best practice library for the management of Information Technology related acquisition processes. It helps both the customer and supplier organization to achieve the desired quality using… …   Wikipedia

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