The official business definition of Electronic Tender is a process of procuring goods and services through the use of electronic means. This method of procurement is becoming increasingly popular as it offers numerous advantages over traditional methods of procurement. Electronic Tender provides a more efficient and cost-effective way of purchasing goods and services, as it eliminates the need for manual paperwork and manual bidding processes. Furthermore, Electronic Tender offers greater transparency and fairness in the procurement process, as all bids are made electronically and are visible to all parties involved. Additionally, Electronic Tender enables buyers to access a larger pool of suppliers, as they can easily compare bids from multiple suppliers. Finally, Electronic Tender allows for a more efficient and secure payment process, as all payments are made electronically. This helps to reduce the risk of fraud and ensures that all payments are made on time. All in all, Electronic Tender is an efficient and cost-effective way of procuring goods and services, and is becoming increasingly popular in the business world.