tender meaning in business
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Search Legal Terms and Definitions tender. 1) v. to present to another person an unconditional offer to enter into a contract. 2) v. to present payment to another. 3) n. delivery, except that the recipient has the choice not to accept the tender. However, the act of tender completes the responsibility of the person making the tender. See also: delivery offer The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications
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Tender documentation for construction projects Tender documentation for construction projects. A tender is a submission made by a prospective supplier in response to an invitation to tender. It makes an offer for the supply of goods or services. Tender documents are prepared to seek tenders (offers). Generally, tendering refers to the suppliers required to complete construction works, rather than the process of selecting consultancy services which is commonly referred to as appointment.
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- For example, if a bidder in a tender offer obtains 70% of the outstanding shares at the completion of the offer, the target would need to issue to the bidder twice as many shares as the total outstanding in order for the bidder to reach the 90% threshold.
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Tender offer The consummation of a tender offer resulting in payment to the shareholder is a taxable event triggering capital gains or losses, which may be long-term or short-term depending on the shareholder's holding period.
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collusive tenderingnoun  [ U] uk ​ us ​ also collusive bidding LAW. › a situation in which companies share information illegally among themselves when offering to supply goods or services, in order to control the price: Collusive tendering deprives customers of the benefits of competition.
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Tender Process A Tender Process (or Inviation to Tender process) is a method by which suppliers are selected for the provision of products and services to an organization.
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tender offer Tender Offer. A proposal to buy shares of stock from the stockholders of a corporation, made by a group or company that desires to obtain control of the corporation. A tender offer to purchase may be for cash or some type of corporate security of the acquiring company—for example, stock, warrants, or debentures.
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How to Tender HOW TO COMPLETE A TENDER OR BID. Each tender or bid advert indicates where you can collect the documents you will need to fill in to submit your tender, and where they should be submitted. The advert also indicates a closing date.
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tender (ˈtɛndə) adj. 1. easily broken, cut, or crushed; soft; not tough: a tender steak. 2. easily damaged; vulnerable or sensitive: a tender youth; at a tender age. 3. having or expressing warm and affectionate feelings: a tender smile. 4. kind, merciful, or sympathetic: a tender heart.
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What Steps Must I Take To Create a Winning Tender? Because government is spending public money on contracts, and is committed to transparency in how this is carried out, it adopts a tender process as a way of limiting the chances that contracts are awarded on the basis of favouritism, racism, nepotism or any other unfair process.
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Difference Between Tender Documents And Contract Drawings Contract documents are the agreement between the owner or the party or the department and the contractor to execute the works as specified in the tender documents as per conditions of contract on the rates quoted by the contractor.
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- Do the paperwork. Once you have identified a tender that you’d like to pitch for, you need to access and complete the tender documents. On this point, filling them out correctly plays a vital part in the potential success of your bid. How hard can that be, you might ask.
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What is a 'Tender Offer' An offer to purchase some or all of shareholders' shares in a corporation. The price offered is usually at a premium to the market price.n offer to purchase some or all of shareholders' shares in a corporation. The price offered is usually at a premium to the market price.
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Request for tender In the public sector an official fee is needed to fortify and secure the tender bid engagement/win documents, such a process may be required and determined in detail by law to ensure that such competition for the use of public fund is open, fair and free from bribery and nepotism.
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TENDER Familiarity information: TENDER used as a noun is common. • TENDER (adjective) The adjective TENDER has 8 senses: 1. given to sympathy or gentleness or sentimentality 2. hurting 3. young and immature 4. having or displaying warmth or affection 5. easy to cut or chew 6. physically untoughened 7. (used of boats) inclined to heel over easily under sail 8.
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Preparing the tender document Tender documents are prepared and sent out to potential contractors to seek tenders (bids) at tender phase. Typically, the tender documents will consist of all or some of the following documents:
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Tender years doctrine Tender years doctrine. The tender years doctrine is a legal principle in family law since the late nineteenth century. In common law, it presumes that during a child's tender years (generally regarded as the age of four and under), the mother should have custody of the child. The doctrine often arises in divorce proceedings. 1 History.
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Tender documentation for construction projects Tender documentation for construction projects. A tender is a submission made by a prospective supplier in response to an invitation to tender. It makes an offer for the supply of goods or services. Tender documents are prepared to seek tenders (offers).
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- Writing a successful tender response keep it simple, yet professional 1. Address exactly what the Buyer asks for, and ONLY what the Buyer asks for! 2. Use a consistent writing style.3. Be professional in the format and presentation of the response.
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"The Importance of Complying With the Uniform Commercial Code's ""Notice"" Requirement When a Supplier Provides Defective Goods" Section 2-607's Notice Requirement. Section 2-607(3)(a) of the Uniform Commercial Code states: Where a tender has been accepted . . . the buyer must within a reasonable time after he discovers or should have discovered any breach notify the seller of breach or be barred from any remedy. . . .2.
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What is a 'Debt Tender Offer' Debt Tender Offer. What is a 'Debt Tender Offer'. A debt tender offer is when a firm retires all or a portion of its debt securities by making an offer to its debtholders to repurchase a predetermined number of bonds at a specified price and during a set period of time. Firms may use a debt tender offer as a mechanism for capital restructuring or refinancing.
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tender Tender. An offer of money; the act by which one individual offers someone who is holding a claim or demand against him or her the amount of money that the offeror regards and admits is due, in order to satisfy the claim or demand, in the absence of any contingency or stipulation attached to the offer.
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Tender offer Cash or securities may be offered to the target company's shareholders, although a tender offer in which securities are offered as consideration is generally referred to as an exchange offer..
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The difference between bids, tenders and proposals Tender – The term “tender” is often used interchangeably to the term bid. However, “Bid” is increasingly being used by the Offerer (the supply side) and the term “tender” used on the procurement side (the buyer). Bid Manager – The bid manager takes full ownership of entire bid program.
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TENDER If, for example, the contract is for delivery of goods from the seller to the buyer on demand, the former being the manufacturer of the goods or a dealer in them, no place being particularly named, the manufactory or store of the seller will be considered as the place intended, and a tender there will be sufficient.
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- It is not uncommon for those who invite tenders to require that the tender is accompanied by a Tender Bond or Tender Guarantee. Tender Bonds are usually only used when the contract is a high value one or where the project being tendered is time critical. The underlying purpose of a Tender Bond is to demonstrate the commitment of the Tenderer to proceed if it is successful in its bid.