A tender is a process where a person needs to do a particular task or supply goods at a fixed rate. At the beginning of the tendering process, all contractors are invited to submit sealed bids for a specific project within a stipulated time frame. The e-tendering process in India ensures that the work should be done for the government or a particular client in a fairway. Once the client or government accepts a tender, both parties are agreed to by certain contracts. The person/company who won the government tenders has to provide goods and services as per the agreed price and the client will pay the agreed price in the settled time.
The e-tendering process involves an array of intricate procedures. Before starting your work, you need to prepare all the tender details and documents properly. Moreover, you also need to make your source of finance accessible and usable. Once you have completed the entire modus operandi, you can select a tendering process that will meet your requirements. Let’s take a look at the different types of tendering processes.
Types of the tendering process
Among various types of e-tendering processes in India, open tendering is the prime tendering procedure. This tendering process is applicable in both government as well as private sectors. Open tendering encourages everyone to propose a tender to provide the services or goods required for another party. This tendering process can also be used for offering another company to submit their own tender. That’s why this procedure is extensively used in the construction and engineering industry. The prime advantage of the open tendering process is that it offers a plethora of opportunities for budding suppliers in the market. For open tendering, the client used to advertise in various newspapers, mentioning all information of proposed works and inviting enthusiastic contractors to submit the bid.
This tendering process is common in industries, including construction and engineering. This tendering procedure can be performed through the same vary from manual tendering to dispute resolutions. If you are planning for a specialist contractor or want to expand the existing one, then negotiating with a single supplier could be the best for you. In this case, you don’t need to spend a hefty amount. Though a single contractor is included for this, still, it can be escalated up to 3 contractors. For this type of tendering procedure, all communication and information flow should be excellent in every aspect.
This type of tendering allows you to submit your tenders through invitation. If you want to be eligible for this type of tendering process, you need to have a suitable and sincere track record, a sizable contract, and intricate liability paperwork. Selective tendering is the best alternative that can solve the limitation of open tendering. For this tendering, a list of contractors is prepared and then they are invited for government tenders. The prime objective of this tendering is to improve the quality of bids from contractors who are experienced and have a proven track record. Because of the security and requirement-based module, this tender offers clients with greater confidence. Since the process is complicated, hence this tendering is not appreciated by new or smaller suppliers.
This tendering is ideal for some specific jobs that demand a sufficient amount of maintenance. Mostly, it is limited to a prearranged time scale. But as per the needs of the consumer, it can be changed slightly. Here, contractors need to cover a range of different buildings in different locations. If you are planning to take on a standing offer of less-defined work, then this tendering could be the best option for you. But these usually come with a deadline, so think about it. These are the most common tendering processes in India. Sometimes, you may find other tendering options like public, serial, and framework tendering, etc. But these processes are less common and, thus, often overlooked by most people. Tendersinfo is one of the largest online e-tendering portals for government tenders, NTPC tenders, NGO tenders, public tenders and private tenders. If you want to flourish the growth of your business, then bid for tenders according to your niche.
To know more details, please visit the official website of e-tendering.