What are tenders? Explain the different types of tenders used in procurement.
Tender:-
A tender is a formal invitation issues by a client to a suppliers and contractors to submit bid or proposal for providing goods or services or any executable work specified terms and condition.
Types of tender in procurement:-
1) Open tender
2) Selective tender
3) Negotiated Tender
4) Single or direct tender
5) Two stage tender
6) E Tenders
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