A tender is a written piece of document which contain the detailed information of the project. It is shared publicly to get quotes from suppliers or vendors. Suppliers submit bids against the tender. The tender issuer contacts the bidder if the bid works well with their project. Sometimes, clients directly invite vendors for tender applications. For the latest private tenders in Punjab, you have to check online tender application websites regularly.
Types of tender
There are mainly three types of tenders based on the nature of the project, expertise required, and complexity of the project.
- Open Tendering: The client advertises publicly to attract bids from all interested contractors. All the suppliers have the equal opportunity of bidding in this case.
- Selective Tendering: In this type of tendering, clients publish tenders for shortlisted contractors only. Tender issuers consider only competent and skilled vendors for their projects.
- Negotiated Tendering: This type of tendering process is open for only one or a maximum of three contractors. It has two phases of negotiation, such as pre-contract and post-contract negotiation.
Bidding process of private tender
The bidding process starts with publishing an Invitation to Bid (IFB) and Request for Quotation (RFQ). The public sector and private sector bidding processes are the same for the IFB and RFQ phases. Once the bidding request is received by the contractor from the client, they review the project and check their capability of delivering the project. Then, they prepare a proposal document with a brief description. After receiving the bid proposal, the client evaluates and selects the vendor as per suitability.
Where to find private tenders?
Private organizations put tender notices on various websites, such as those listed below.
- Tender Tiger
- TendersOnTime
- Tender Times
- Punjab Tenders
- Private Tenders
- Tender Details
Various businesses, like banks, retailers, or any private limited company, attract suppliers for bidding through online portals. For example, major private players who publish tenders are Essar Group, Reliance, and Adani Group. All of them publish tenders with details of their requirements. Some of these website portals publish region-specific notices, like Punjab Tenders Online Portal, which publishes notices on private tenders in Punjab.
Some Private tenders in Punjab
- TDR No. 33256358: Auction for sale of property by Encore ARC Pvt. Ltd., Gurugram V/S. Ramesh Kumar Bansal with an EMD value of Rs. 580000.
- TDR No. 32738213: Auction for sale of property by Encore ARC Pvt Ltd, Gurugram V/S. Uma Shankar Mishra with EMD value Rs. 27000.
FAQ
What are common elements in private tender documents?
A tender document includes details of the project, bond requirements if any, cash allowance, unit price, tax implications, policies, and certification.
How are suppliers selected for private tenders?
The potential bidders are evaluated based on their technical skills, relevant experience, and price quotation. If the client finds the exact match, they contact the best-fitted contractors.
Is there any regulation on private tenders?
Private tenders have fewer regulations and less restriction. Private tenders have lower transparency because many business owners do not want to reveal all the details for privacy. However, private tenders offer greater flexibility in bidding.
