Govt Tenders

Tender is defined as “inviting bids for a project” or “accept a formal offer such as a takeover bid”. Tender is a process where governments and financial institutions invite bids for large projects that must be submitted within a fixed deadline. Tender also refers to a process whereby shareholders submit their shares or securities in response to a takeover offer. Once the bidders submit their tenders within a deadline, the company floating the tender opens the sealed tenders, peruses the bidding company details and finally awards the project to the appropriate bidder. Industry members of the Peenya Industrial Association can participate in the tenders called by various sources such as government agencies, public sector units and large private sector companies to expedite work, supply raw materials or components. Industry members can respond to requests for tenders by using the links in the given tenders and correspond with the source offering the tender.