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Invitation to tender, the Glossary

An invitation to tender (ITT, also known as a call for bids or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been previously assessed for suitability by means of a supplier questionnaire (SQ) or pre-qualification questionnaire (PQQ).^[1]

Construction bidding

Construction bidding is the process of submitting a proposal (tender) to undertake, or manage the undertaking of a construction project.

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Contract

A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties.

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Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs

The Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW) is a Directorate-General of the European Commission.

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E-procurement

E-procurement (electronic procurement, sometimes also known as supplier exchange) is a collective term used to refer to a range of technologies which can be used to automate the internal and external processes associated with procurement, strategic sourcing and purchasing. Invitation to tender and e-procurement are procurement.

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Electronics Corporation of India Limited

Electronics Corporation of India Limited (ECIL; ईलेक्ट्रॉनिक्स कॉर्पोरेशन ऑफ ईन्डिया लिमिटेड (ईसीआईएल)) is a Public Sector Enterprise under the Department of Atomic Energy, established on 11 April 1967 by A.

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European Commission

The European Commission (EC) is the primary executive arm of the European Union (EU).

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European Economic Area

The European Economic Area (EEA) was established via the Agreement on the European Economic Area, an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association (EFTA).

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European Union

The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe.

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Government procurement

Government procurement or public procurement is when a governing body purchases goods, works, and services from an organization for themselves or the taxpayers. Invitation to tender and Government procurement are procurement.

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Government procurement in the European Union

Government procurement or public procurement is undertaken by the public authorities of the European Union (EU) and its member states in order to award contracts for public works and for the purchase of goods and services in accordance with principles derived from the Treaties of the European Union.

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Multisourcing

Multisourcing is the concept of working with multiple suppliers who are also competitors. Invitation to tender and Multisourcing are procurement.

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Proposal (business)

A business proposal is a written offer from a seller to a prospective sponsor.

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Request for information

A request for information (RFI) is a common business process whose purpose is to collect written information about the capabilities of various suppliers. Invitation to tender and request for information are procurement.

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Request for proposal

A request for proposal (RFP) is a form of reverse auction that solicits a business proposal by an organisation interested in the procurement of a service or product from potential suppliers. Invitation to tender and request for proposal are procurement.

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Request for qualifications

A request for qualifications (RFQ) is a step sometimes used in the formal process of procuring a product or service, for example by a government agency. Invitation to tender and request for qualifications are procurement.

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Request for quotation

A request for quotation (RfQ) is a business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services. Invitation to tender and request for quotation are procurement.

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Reverse auction

A reverse auction (also known as buyer-determined auction or procurement auction) is a type of auction in which the traditional roles of buyer and seller are reversed. Invitation to tender and reverse auction are procurement.

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Short list

A short list or shortlist is a list of candidates for a job, prize, award, political position, etc., that has been reduced from a longer list of candidates (sometimes via intermediate lists known as "long lists").

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Social responsibility is an ethical concept in which a person works and cooperates with other people and organizations for the benefit of the community.

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Sources sought

A sources sought (often capitalized as Sources Sought) notice is used by agencies of the government of the United States to solicit interest in a project under consideration by that agency. Invitation to tender and sources sought are procurement.

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Strategic sourcing

Strategic sourcing is the process of developing channels of supply at the lowest total cost, not just the lowest purchase price. Invitation to tender and Strategic sourcing are procurement.

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Telecommunications Consultants India

Telecommunications Consultants India Limited (TCIL) is a central public sector undertaking.

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References

[1] https://en.wikipedia.org/wiki/Invitation_to_tender

Also known as Beauty parade, Bid invitation, Call for bids, Call for tenders, Call to tender, Calls to tender, Contract tendering process, Expression of Interest, Find a Tender Service, Freight Tender, Invitation For Bid, Invitation for bids, Invitation to vendors, Open call for bids, Open public tender, Open tender, Pre-qualification questionnaire, Public business activities, Request For Tender, Request for offer, Requests for tender, Tendering.