Construction Law/Tender vs Bid

Advertisement


Question
Dear Sir;

What is the difference between the term "Tender" and the term "Bid"?  in which stage either of them is used? and by whom either of them is issued or submitted? etc.

Thank you

Answer
Dear Sir,

Thank you for your question. Simply put, in my opinion, the term Bid relate to the stage of quoting a price for the work being floated for tendering and the term Tender relate to overall terms and conditions of the work being put to tender. Hope this will provide a useful direction to study in detail the issues involved.

Regards & Best Wishes.   
Liaqat Hayat

Construction Law

All Answers


Answers by Expert:


Ask Experts

Volunteer


Liaqat Hayat

Expertise

I can answer questions based on FIDIC 4 and FIDIC 1999 [design-build] with particular reference to time extension , price adjustment and disputes. I am in particular more inclined for response to points pertaining to how claims should be framed and put up in case of technical or other contractual shortcomings. Regarding procurement matters I have spent over 5 years as procurement specialist for highway authority and dealt with numerous claims and disputes in the capacity of "The Engineer" .

©2016 About.com. All rights reserved.