What is a Tender?
A tender is a type of proposal or invitation from a client to various eligible contractors to get participate in tender bidding following the selection of the final contractor by the client.

Importance of Tender:
1. Through tender e-procurement portal clients can fulfill their requirements and specification of works for their successful completion of the project.
2. Through this tender portal, the client has the option to choose or select the final contractor accordingly to their wish.
3. All the activities involved in the respective construction project will govern under standard legal norms and conditions.
4. There will be healthy competition in the bidding phase among eligible contractors for a particular tender.

What is a Contract?
The contract is a legal agreement between the client and the contractor before starting the project by the contractor to run the project smoothly.
A contract will be get signed and governed under the following common clause:
1. Time (Completion time/Duration)
2. Cost & rate & bill payment schedule(financial agreement)
3. Quality agreement (Before construction & after construction )
4. Penalty (Liquidity Damages)
Watch complete Tendering sessions videos in sequence series wise :
   • Tender and Contract Management Videos...  
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