Invitation To Tender (Itt) Definition

An Invitation To Tender (ITT) is a formal invitation to potential suppliers to submit a bid to provide goods or services. The ITT sets out the requirements for the goods or services being procured and the process that will be used to evaluate bids.

The Invitation To Tender process is often used for complex procurements where multiple factors need to be considered in evaluating bids. For example, an ITT may be used to procure construction services where price is only one of many factors that will be considered in awarding the contract.

Bidders are typically required to submit their bid in response to the ITT within a specified timeframe. Bids are then evaluated against the criteria set out in the ITT and a decision is made on which supplier will be awarded the contract.