Basic Requirements & Advantages of Open Tendering

Among the various types of tendering, open tendering is one of the most preferred methods used for obtaining services, goods and infrastructural facilities. The basic requirements of open tendering are that they should:

• Be open to all interested and qualified bidders
• Be publicized locally as well as internationally if required
• Have objective qualification standards
• Have unbiased and precise technical specifications
• Have detailed objective evaluation criteria
• Be given to the lowest cost provider minus contract negotiations

It is believed that this procurement method nurtures effective competition, is worth the cost and is ideal for the procurement of simple goods. Open tendering is a one-stage bidding procedure where all those who are interested and are responding to contract notice, will be invited to submit a tender.  

 Mentioned below are some of the advantages that open tendering offers:

• The key advantage of open tendering is that no partiality exists here as everyone is invited to apply for the tender.
• Another advantage of open tendering is that you can find high competition in pricing.
• This tendering process allows new firms to enter the market.
• There are increased opportunities for employments.
• This tendering process encourages new experience and new technology.
• It allows the contractors to grow while enabling them to get new clients

Now, if you are interested in applying for the open tender, you will have to make sure that your company is registered on the database of the firm whose tender you are bidding for. Once you have registered your company, the next step will be to prepare your company for securing the contract. Keep in mind that there is no point in applying for a tender if your company does not have the expertise and experience to take up and complete the work. Therefore, ensure that your company is well-aware of the work involved and offers a competitive price package that fits in perfectly. Another thing that you should consider is that tenders are awarded on the basis of price as well as preference. So, companies with good track records usually have the highest chances of winning the bid.