What is a tender or bid?
A tender is an offer to do work or supply goods at a fixed price. Getting goods or services is also known as 'procurement'. When Invest North West 'puts out a tender' or 'invites bids' this means it is inviting the public for price offers to do work or supply goods. The company then assesses who to choose based on the prices offered and the nature of the person or company making the tender.
The tender or bid process is designed to ensure that the work to be done for Invest North West is given out in a fair way. There are a number of policies (known as 'procurement policies') that guide us on how to make decisions on which tender to accept. Although price is very important in the decision on which tender or bid to accept, it is not the only factor taken into account.
Once Invest North West accepts a tender, it is binding on both parties. This means that the person or company that won the tender has to provide the goods or services in the manner agreed to and at the price offered, and Invest North West must pay the agreed price at the agreed time. In other words, once accepted, a tender is a binding contract.
The following tenders are currently open for submission:
- Invest North West AR 2009-2010