Tender
A tender is a formal, sealed offer to perform work or supply goods at a stated price, submitted in response to an invitation to tender. 'Tendering' names the whole competitive process — common in public procurement across the UK, EU, and Commonwealth markets.
In everyday usage, 'tender' spans both sides of the transaction: buyers 'put work out to tender' and suppliers 'submit a tender.' The process is characterized by formality — published criteria, strict deadlines, sealed submission, and limited post-submission clarification. North American procurement says 'bid' and 'proposal' where British-influenced markets say 'tender,' but the mechanics converge: extract requirements, prove compliance, evidence capability, price precisely. Framework tenders add a wrinkle: winning admits you to a panel from which call-off contracts are later awarded, so the tender response is the gateway rather than the sale itself.
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