TENDERER Meaning and
Definition
-
Tenderer is a noun that refers to an individual or a company that submits a formal bid or proposal in response to a tender, request for proposal (RFP), or similar invitation for competitive offers in a business or procurement context.
In the business world, organizations often release tenders or RFPs when they require specific goods, services, or projects to be fulfilled. A tenderer is one of the participants who expresses interest in fulfilling the stated requirements and submits a proposal outlining their capabilities, pricing, and other relevant details within the specified deadline.
The role of a tenderer is to thoroughly analyze the requirements outlined in the invitation to tender and develop a comprehensive proposal that not only meets the requirements but also showcases the unique selling points of their product or service. Tenderers are expected to accurately estimate costs, demonstrate their expertise, provide appropriate timelines, highlight their competitive advantage, and outline the benefits their offer will bring to the organization issuing the tender.
The tender evaluation process typically involves comparing and assessing the merits of the submitted proposals, and the tenderer with the most competitive and suitable bid may be selected as the preferred supplier or awarded the contract.
Overall, a tenderer plays a crucial role in competitive bidding processes by actively participating, providing detailed proposals, and vying for the opportunity to fulfill a specific requirement.
Common Misspellings for TENDERER
Etymology of TENDERER
The word "tenderer" is derived from the base word "tender", which ultimately comes from the Latin word "tener", meaning "soft" or "delicate". The suffix "-er" is added to the base word "tender" to form the comparative form "tenderer", indicating something or someone that is more tender than another.
Similar spelling words for TENDERER
- tenderiser,
- tenderizer,
- tenderloin,
- tenderise,
- tenderize,
- tender,
- tendrac,
- tenderly,
- tendergreen,
- tendril,
- tenderfoot,
- thunderer,
- tenderised,
- tenter,
- tenderness,
- tenderized.
Infographic
Add the infographic to your website:
