What does it mean to tender an instruction?

Tender Instructions means instructions by a Participant (in such form as HKSCC may from time to time prescribe) for (i) a tender or application to be made on its behalf for Exchange Fund Notes, Government Bonds, Specified Instruments or CMU Instruments and (ii) the payment and refund of tender moneys or application …

What is the meaning of tender document?

Tender Document means the set of papers detailing the schedule of works, calendar of events, requirement of goods and services, technical specifications, procurement criteria and such other particulars, as may be prescribed for evaluation and comparison of tender.

What does it mean to tender an order?

An offer of money; the act by which one individual offers someone who is holding a claim or demand against him or her the amount of money that the offeror regards and admits is due, in order to satisfy the claim or demand, in the absence of any contingency or stipulation attached to the offer.

What does it mean to award a tender?

Contract awarding is the method used during a procurement in order to evaluate the proposals (tender offers) taking part and award the relevant contract. Usually at this stage the eligibility of the proposals have been concluded. So it remains to choose the most preferable among the proposed.

What is notice inviting tender?

Notice Inviting Tender (NIT means any publication or notice issued to the public through press or otherwise expressing the intention of the corporation to get the supplies or work done and requesting the bidder to make offers.

What does it mean to tender something?

1 : to present for acceptance : offer tendered my resignation. 2 : to make a tender of. intransitive verb. : to make a bid or tender.

Which is a part of tender notice?

The tender notice should stipulate short description of the work, period of construction, date and time for submission of the tender, amount of earnest money to be deposited, manner of depositing the earnest money, estimated amount of the tender, source of receiving the tender documents and the name and address of the …

Should I accept a tender offer?

Is It a Good Idea to Accept a Tender Offer? The common wisdom is that since tender offers represent an opportunity to sell one’s shares at a premium to their current market value, it is usually in the best interests of shareholders to accept the offer.

What does tendering mean in law?

Tender is to unconditionally offer money or performance to meet an obligation. The term most commonly arises in the context of the contractual sale of goods.

What happens after a tender is awarded?

3.4 – When the tender award happens Otherwise they make a recommendation for the Accounting Officer to award. The tender award occurs when the preferred bidder receives their letter of award. Now the winning bidder and the procuring entity must negotiate and sign a contract.

What is the notice to proceed?

A Notice to Proceed marks the date when a contractor or subcontractor’s work is to begin on a construction project – the date that the clock starts ticking.

What is the difference between a bid and a tender?

In short, they are the same thing. Traditionally a ‘Tender’ is a formal offer (bid) to supply goods, works, or services, but it is now also commonly used to describe the contracts people are bidding for – which can be confusing.