Construction Bids and Tenders Tips

Invitation to tender

When all the preliminaries are completed and the owner has decided to proceed with the work, tenders are invited. Legally this is an attempt to check if there would be interested contractors to carry out the work within the estimated limit of time and finance. The invitation to Tender is not binding to the owner to proceed with the work and does not cause any liability for any expenses to which contractors would spend in preparing and submitting their construction bids.

Negotiated Construction Bids

What is Construction Bids?

Construction Bids are written offers from contractors to undertake a construction job in return of a certain sum of money. Bids can be either Negotiated Bid, Limited Competition, Selective Bid or Open Competition Bid. This article will talk about Negotiated Bid while the other will be written in fupcoming posts.