Question
Name the two main type of Tender and explain each of them
Answers
GPT 3.5
The two main types of tender are open tender and sealed tender.
1. Open tender: In an open tender process, the tender documents are made available to all interested bidders without any restrictions. This type of tender is open to all qualified and interested bidders, and there is usually no limit to the number of bidders who can participate. The open tender process promotes transparency and competition as all interested parties have an equal opportunity to bid on the project. Bids are typically submitted publicly, and the contract is awarded to the bidder who meets the specified criteria and offers the best value for the project.
2. Sealed tender: In a sealed tender process, the tender documents are available to interested bidders, but bids are submitted in sealed envelopes to the tendering authority by a specified deadline. The bids are not opened and evaluated until after the deadline has passed, ensuring that the evaluation process is fair and unbiased. Sealed tender processes are often used for larger or more complex projects to protect the confidentiality of the bids and prevent any potential collusion or interference. The contract is awarded to the bidder who meets the specified criteria and offers the best value for the project, as determined through the evaluation process.
1. Open tender: In an open tender process, the tender documents are made available to all interested bidders without any restrictions. This type of tender is open to all qualified and interested bidders, and there is usually no limit to the number of bidders who can participate. The open tender process promotes transparency and competition as all interested parties have an equal opportunity to bid on the project. Bids are typically submitted publicly, and the contract is awarded to the bidder who meets the specified criteria and offers the best value for the project.
2. Sealed tender: In a sealed tender process, the tender documents are available to interested bidders, but bids are submitted in sealed envelopes to the tendering authority by a specified deadline. The bids are not opened and evaluated until after the deadline has passed, ensuring that the evaluation process is fair and unbiased. Sealed tender processes are often used for larger or more complex projects to protect the confidentiality of the bids and prevent any potential collusion or interference. The contract is awarded to the bidder who meets the specified criteria and offers the best value for the project, as determined through the evaluation process.