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Tenders and tendering

The process by which one can seek prices and terms for a particular project (such as a construction job) to be carried out under a contract. The sealed offers themselves, including company information, a project outline, and a price quote, are known as tenders or bids. legal tender, a term for currency tender offer, used to propose a buyout of a public company. Ttender(s) or call for bids, can also be referred to as Public Procurement, a way in which Bodies governed by Public Law (such as Local Authorities, schools, hospitals, utilities...) buy what they need for their activities. Tenders are governed by countries legislation.