Open Tender Procedure Definition
An open tender procedure is a type of public procurement process in which all eligible suppliers are invited to submit a bid for the work or goods required. The open tender process is used to ensure that the best possible value for money is obtained from the suppliers invited to participate.
The open tender process typically involves the following steps:
1. Publication of the invitation to tender (ITT) in an appropriate forum, such as a national or international journal, website or other media outlet.
2. Receipt and evaluation of bids from interested suppliers.
3. Award of the contract to the supplier who offers the best value for money, as determined by the evaluation criteria set out in the ITT.
4. Notification of all unsuccessful bidders.
5. Contract signature and performance start date.
The main advantages of using an open tender procedure are that it:
– Ensures that all potential suppliers have an opportunity to compete for the work or goods required;
– Increases competition and drives down prices;
– Facilitates market research and testing; and
– Is transparent and accountable, providing confidence to stakeholders that value for money has been achieved.
