Tender

A tender is a solicitation whose terms bind both directions: the buyer's documents form the contract, and the supplier's submission is a firm, irrevocable offer that becomes binding on acceptance. Tenders dominate construction and goods procurement and are usually awarded to the lowest compliant bid or a tightly scored grid.

The mechanics are unforgiving by design. Prices lock at submission; qualifications attached after closing are rejected; arithmetic errors can be held against the bid; and walking away from a winning tender can trigger a bid-bond claim. That strictness is what makes a large public award defensible. Treat every addendum as part of the tender documents, every deadline as immovable, and every page of the annexes as text you are agreeing to.

@misc{pi-2026-definitions-tender,
  author = {{The Procurement Institution}},
  title  = {Tender — definition},
  year   = {2026},
  url    = {https://procurementinstitution.org/definitions/tender},
  note   = {Release 2026.10}
}