#tender types

Today’s tendering arena/world is just not about tender documents and bidding proposals but way beyond that. The recent need for going online has hit the tendering industry for good. The eTender business has made the procedures more transparent indirectly increasing efficiency. 

Tender Tiger is an ISO-certified company that offers solutions for both buyers and sellers making it a holistic tendering platform. Let’s have a brief run down on its services.

Tender Notice Alerts: It is extremely vital to get the right tender alert at the right time. We make it possible for you to view tender summary’s for free, after which you can download the tender document by paying us a nominal fee. You can subscribe to our latest tender alerts through our mobile app, email alert and website. Additionally, we also provide scanned copies in renowned newspapers to reach a larger audience. We are proud to mention that we track more than 2 million tenders annually making our platform a one-stop solution to your tendering needs. 

Pre-Qualification Terms: In order to aid you in making robust decisions we provide our clients with pre-qualification term services for free tender documents. This not only saves you time but also helps you concentrate on preparing your winning bid proposal. Also, If pre-qualification criteria are not met by your business you can contact us for resolutions. You can find a consortium partner and can participate in the tender. 

Tender Documents: We work as an aggregator which sources tenders from various state tender websites and makes them available for you at one stop. This saves our clients from hopping different tender websites. You can access our Tender inventory document provided you have subscribes to our pro membership.  

Consortium Partner: Tender Tiger does assist you to find a perfect consortium partner just not through posting advertisements on the website but also through consultation. This makes it possible only due to our wide-range supplier network.

Private Tenders/BOQ: We believe that offering an aggressive quote is the highlight in order to bag a tender. From a heavy competitive bunch of applicants, if your bid documents don't satisfy the requirement you're sure to lose a lucrative business opportunity. In such a case we come to the rescue by offering you a reverse auction where lower quotes can be possible.

Sub-Contracting: Did you know, you can still participate in a tender even if you don’t have the pre-qualified requirements? If you’re an SME firm with a particular expertise, consortium bidding is what you must look for. Through Consortium bidding or sub-contractor you can be a part of a large bidding project. We make it possible for contractors who are seeking tenders to get in touch with you through advertisements on our portal.

Tender Results: As the title suggests, Tender Tiger shows you who has won the tender, for how much, who were the other competitive bidders, etc. This service is extremely vital to identify upcoming potential winning bids and to identify price of tender awarded.

Tendering Statistics: To know the government business and to know how to capture maximum market business, this service is very important. Weekly, monthly, quarterly and yearly accurate reports for tenders are available every year.

Advertisements: All types of companies throughout the globe have access to Tender Tiger for better business opportunities. Quality leads will be provided with just advertising as low as 10,000rs. Per lead charges are also available, that is 750/lead.

Upcoming Exhibitions: Thousands of exhibitions are been monitored by us across India. You can grab the opportunity and book a stall at any of your choice of exhibition or circulate brochure and generate large number of leads.

Digital Certificates: To participate in government bodies like e-Tendering, e-Auction, etc. Class 3 valid digital certificate is mandatory. We help to procure digital certificate and total support in installation and configuration.

New Projects Information: Thousands of new projects by government and private companies are being tracked by Tender Tiger. Hundreds of new projects are added daily through which you can track your business opportunities and track investment planning accordingly.

eProcurement/eAuction: ProcureTiger.com and AuctionTiger.net, these two domains will provide you with total solutions for eProcurement and eAuction. You can use our platform to search/view/participate/win such opportunities too.

Supplier Market Place: Tender Tiger covers 1,00,000 companies in their marketplace. Global buyers visit our global website for bidders globally. Registering is a must to participate and enter the marketplace.

When it comes to certain businesses, there is a lot of dealing and trading of goods and services that take place. These deals not only require the companies to make a formal offer for the exchange of goods and services with other organizations but also negotiate the best deal. This offer or bid is put forward in the form of a tender. To understand the criticality of a tender in the business industry, let us go through the term in a little more detail and see how it actually works.

What is a Tender?

A tender is an offer or invitation to bid for a project or to accept a formal offer such as a takeover bid. Additionally, this process commences with a government and financial institution that puts forward an invitation to a bid for large as well as small projects. These bids have a submission deadline. 

On the other hand, a request for tender or RFT is a formal request or invitation to the suppliers which asks them to submit their best competitive bids to supply products, services and raw materials for a required project. In the private sector, a request for tenders or RFT is usually referred to as a request for proposal or RFP. These requests allow the potential bidders to respond to the needs of the issuer.

Example: The government of India has asked the private and public suppliers to send in their bids for a civil work tender - the construction of a bridge. Here, the government of India is the issuer of the tender whereas, the various private and public businesses/companies who send in their bid to bag the project are the bidders. 

What are the different types of tenders in India?

In India, there are various types of tenders like open tender, selective tender, serial tender, negotiated tender and term tender. To understand each of them in brief, let us go through them one by one.

Open Tender Both private, as well as government organisations, can accept an open tender. This is considered to be the main form of tender in which the client or the customer advertises the tender openly in a newspaper or on the e-tender platform along with some important information about the proposed works to invite the interested contractors and suppliers.

Selective Tender Selective tender was developed as an alternative to the open tender procedure to address the latter’s limitations. The main focus of this type of tender is to boost the quality of bids received while also ensuring that the contractors with the requisite expertise are given the right opportunities to submit the required bids on time.

Serial Tender The process of serial tendering is a more hybrid or advanced tendering method which combines normal competitive tenders added with a scope of negotiation. This competitive tender can be either single stage or two stages. This type of tendering is mostly used for clients who have a number of phases of similar work.

Negotiated Tender As the name suggests, a negotiated tender is used largely in the engineering and construction industry. This is because these industries are subject to pre-contract and post-contract negotiations.

Term Tender This type of tender is mostly used in large projects which require high maintenance. Through this tender, the contractor is asked to cover specific buildings or constructions in various locations. Term tender is limited to a fixed time and can demand certain criterion which is to be met by the supplier adhering to the needs of the client.

Now that you know what tendering is, you should also know that varied types of tendering processes are used across different industries from different sectors including all public, private and non-profit sectors. While we saw how tendering is a common process in various businesses and industries, this process is more common in certain areas like information technology, business consulting, engineering and construction.

Currently, India has a robust e-tender process that is not only well structured but also ensures the task is done reasonably and efficiently. Keeping this in mind, most institutions have a specific procurement procedure that is carried out in a well-defined process and have fixed policies that direct the institutions on how to make a decision and which tender to accept.