What Is the Difference Between Bid And a Tender?
Most people around the world are familiar with the terms tender and bidding. People who work in the business use these terms frequently. Bids and tenders are their primary or secondary source of income. People commonly use these terms when submitting bids for government tender in Bangladesh. However, they have also gained widespread usage in other contexts due to their popularity among the general population. When one organization requires services, it issues an open Request For Proposal. It has all the details of the expected benefits and invites bids. Interested organizations submit bids on projects detailing their cost, project deadline, and other details. After receiving sufficient bids after the deadline, the organization requesting the services decides who to assign. This organization takes this decision after judging carefully. Let us now discuss tenders and bids in greater detail so that you understand the distinction between the two. Difference between Bid and Tender In ...