ITT (Invitation to Tender/Invitation to Treat)

ITT, or Invitation to Tender (also known as Invitation to Treat), is a formal request for suppliers to submit their best offers on a particular procurement process. An ITT typically provides potential suppliers with detailed information about the purchase, including the requested product/service, the timeline of the procurement process, and any relevant criteria for evaluation. Through an ITT, organisations are able to leverage economies of scale and secure better deals by engaging multiple suppliers simultaneously and effectively comparing offers. In this way, ITT is a valuable tool for public sector organisations looking to achieve value for money in their procurements.