![]() Open tendering also carries some risk for the buyer, as there is no guarantee that any of the suppliers will actually bid for the work. The main disadvantage of open tendering is that it can be time-consuming and costly to prepare a bid. – ensures that the best supplier is selected for the job, based on their ability to meet the specification at the best price – allows businesses of all sizes to compete for work – encourages competition, which can lead to lower prices ![]() The main advantages of open tendering are that it: The open tendering process is usually used for large projects or contracts. Open tendering is the process of soliciting bids for a project or contract from a group of potential suppliers. So, what is open tendering exactly? Read on for a complete definition and explanation of how it works. It also allows for greater scrutiny of bids by interested parties, which can help to weed out corruption and collusion. The open tendering process is designed to promote competition and level the playing field for all potential bidders, large and small. ![]() The details of the project or requirement are publicly advertised, and any entity meeting the required qualifications can submit a bid. Open tendering is the process of inviting bids for a project or goods/services in an open and transparent manner.
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