Table of Contents
What is percentage tender?
In Percentage Rate Tender, the tenderer shall quote percentage below/above (in figures as well as in words) at which he will be willing to execute the work.
What is the value of tender?
Tendered value means the value of the entire work as stipulated in the letter of award. Tendered value means the value of the entire work as stipulated in the work order.
What is total tender?
Total Tender means the sum of all the extensions of all the bid items in the unit price schedule in the Contract.
What does it mean to tender the price?
If you tender for a job, you make a formal offer to do it for a stated price: If you tender for something such as shares, you make a formal offer to buy them for a stated price. [ T ] formal. to give or offer something: Please tender the exact fare.
What is percentage based contract?
In it, a client agrees to pay a contractor the direct cost of the work, in addition to a percentage of the cost of the project to cover profit and overhead expenses.
How is tender value calculated?
This price is ascertained on the basis of previous cost sheet or production account. In ascertaining expected cost in the future, the items of previous elements of cost are considered with due regard to expected changes in the future. Estimated cost is increased by desired profit to ascertain tender price or quotation.
What is the percentage of EMD in tender?
12. Earnest Money/Security Money clause:- (a) The value of Earnest Money to be deposited by the tenderer should be 2\% of the value of the estimated cost tendered for or Rs. 10,00,000/-, whichever is lower.
What is tender cash?
Sometimes, one corporation decides that acquiring a sizable portion of the stock of another is to its advantage, and it offers shareholders of the target company cash or shares of its own stock. When such a cash offer meets Securities and Exchange Commission guidelines, it is termed a cash tender offer.
What is B1 and B2 tender?
Percentage rate tender (B1 system) 6. Item rate tender (B2 system) 7. Labour tender 8. Joint venture tender 9.
What is negotiated tender?
Negotiated Tendering. Negotiated tenders are obtained by the employer inviting a contractor of his choice to submit prices for a project. Usually this is for specialized work or when particular equipment is needed as an extension of existing works, or for further work following a previous contract.