Request for tender
Introduction
In construction industry, the most popular way to secure a construction project is “Tender Bidding”. In this process which involves few steps, client will filter and select the best contractors to do the construction work. The first step is “Request for Tender”. Bids are invited from interested contractors to carry out specific packages of construction work. And then followed by tender submission, tender documents review, and lastly choosing the best contractor.
A request for tender (RFT) is a formal, structured invitation to suppliers for the supply of products or services. In the public sector, such a process may be required and determined in detail by law to ensure that such competition for the use of public money is open, fair and free from bribery and nepotism. For example, a government may put a building project 'out to tender '; that is, publish an invitation for other parties to make a proposal for the building 's construction, on the understanding that any competition for the relevant government contract must be conducted in response to the tender, no parties having the unfair advantage of separate, prior, closed-door negotiations for the contract. An evaluation team will go through the tenders and decide who will get the contract. RFTs may be distributed to potential bidders through a tender service, allowing businesses to receive and search live tenders from a range of public and private sources. An RFT is usually expected to conform to some legally standardized structure, designed to ensure impartiality.
In contract law, an invitation to treat is an action by one party which may appear to be a contractual offer but which is actually inviting others to make an offer of their own. The distinction is important because if a legitimate contractual offer is accepted by another, a binding contract is immediately formed and the terms of the original offer cannot be further negotiated without both parties’ consent. An invitation to treat may be
In construction industry, the most popular way to secure a construction project is “Tender Bidding”. In this process which involves few steps, client will filter and select the best contractors to do the construction work. The first step is “Request for Tender”. Bids are invited from interested contractors to carry out specific packages of construction work. And then followed by tender submission, tender documents review, and lastly choosing the best contractor.
A request for tender (RFT) is a formal, structured invitation to suppliers for the supply of products or services. In the public sector, such a process may be required and determined in detail by law to ensure that such competition for the use of public money is open, fair and free from bribery and nepotism. For example, a government may put a building project 'out to tender '; that is, publish an invitation for other parties to make a proposal for the building 's construction, on the understanding that any competition for the relevant government contract must be conducted in response to the tender, no parties having the unfair advantage of separate, prior, closed-door negotiations for the contract. An evaluation team will go through the tenders and decide who will get the contract. RFTs may be distributed to potential bidders through a tender service, allowing businesses to receive and search live tenders from a range of public and private sources. An RFT is usually expected to conform to some legally standardized structure, designed to ensure impartiality.
In contract law, an invitation to treat is an action by one party which may appear to be a contractual offer but which is actually inviting others to make an offer of their own. The distinction is important because if a legitimate contractual offer is accepted by another, a binding contract is immediately formed and the terms of the original offer cannot be further negotiated without both parties’ consent. An invitation to treat may be
References: http://www.thenbs.com/topics/ContractsLaw/articles/tenderingForConstructionProjects.asp http://www.e-lawresources.co.uk/Offer-and-acceptance-contract.php http://tutor2u.net/law/notes/contract-elements.html Sundra Rajoo & Harbans Singh KS (2012), Construction Law in Malaysia