Serial Tendering Advantages And Disadvantages

Feb 4, 2016 - The advantage of serial tendering is that the client knows that the. However, the disadvantage is that the pitfalls of negotiation still apply. Serial tendering. A 'tender' is a submission made by a prospective supplier in response to an invitation to tender. It makes an offer for the supply of goods or services. In construction, the main tender process is generally the selection, by the client, of a contractor to construct the works.

Tender: It is an invitation from owner/client calling for a formal written offer to undertake/execute some specific work or provide services( at a specified cost and in specified time with a set of requirements or specifications) from prospective tenderers in the specified tender form (RFP). Bid: A bid is a quoted tender either in the specified form of the employer or contractor.

Bidding is an offer(often competitive) of setting a price for specific work or service to be provided. Tendering is the process by which bids are invited from interested contractors to carry out specific packages of construction work. Tendering should adopt and observe the key values of fairness, integrity, honesty, clarity, simplicity and accountability keeping in mind the value for money. Three Types of Tendering Methods used in Construction Industry: 1.

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