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Electronic tendering ("e-Tendering") is a process for sending and receiving tenders by electronic means, rather than the old paper-based method. Instead of inserting documents into an envelope and posting them, we - and you - will now exchange them securely via the Internet. It also reduces the time and streamlines tendering operations, making ...
Business administration. Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. [1] The term may also refer to a contractual obligation to "procure", i.e. to "ensure" that something is done.
Software. v. t. e. 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. [1] Thus, there is one buyer and many potential sellers. In an ordinary auction also known as a forward auction, buyers compete to obtain goods or services by ...
eBidding in comparison to eAuction. An eAuction, in contrast to an eBidding, automatically leads to the acceptance of the best tender by the buyer. As a result, buyers tend to make more competitive offers during an eAuction. Aspects both auction set-ups have in common are: having one buyer and multiple suppliers involved, using the internet for ...
Construction bidding. Construction bidding is the process of submitting a proposal ( tender) to undertake, or manage the undertaking of a construction project. The process starts with a cost estimate from blueprints and material take offs . The tender is treated as an offer to do the work for a certain amount of money (firm price), or a certain ...
Engineering, procurement, and construction. Engineering, procurement, and construction ( EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects. [1]
These aspects might be caused by smaller requirements of electronic tenders on the companies' capacity. Corruption control – eProcurement is considered to be suitable tool to prevent corruption as it can make tender process easier to monitor. Electronic tools are also believed to reduce amount of mistakes or errors made by humans involved.
Information Services Procurement Library. The Information Services Procurement Library ( ISPL) is a best practice library for the management of Information Technology related acquisition processes (derived from Euromethod ). It helps both the customer and supplier organization to achieve the desired quality using the corresponded amount of time ...