Tender is a written offer presented before an owner (department) showing interest to perform the specified work within the specified time under agreed condition.
The owner (or department) supplies a special printed tender form at the usual cost. In such tender form; condition of contract and other related obligations are printed.
Steps in Tender Preparation
In order to execute construction work through contracting, we need to invite a tender from the eligible bidders. Before inviting tenders; the following steps are to be completed:
In this step, the necessity of the project is identified and cost-benefit analysis is done. Then a detailed feasibility study is carried out to know whether the project is feasible or not. Since the project comes into the scene after this stage; it is the first and the most important phase.
2. Detail Design cost estimation :
At this stage, the detailed design of the project is done and based on the design & detail cost; estimation of the project is prepared.
3. Approval of cost estimate:
The concerned authority will approve the estimated cost of the project and allocate the budget for the project.
4. Tender document preparation:
In order to notify publicly, the tender document fulfilling the requirements is prepared before inviting tender. Approval of tender document by the concerned authority is essential.
5. Tender Invitation
After fulfilling all the requirements listed above, tender notice is published and bidders are invited.
Tender notice is a means of expression through which contractors know where they have to bid a tender.
It shall be published in such a way that all the concerning parties get the information in time. Thus such tender notice shall be published in widely read the newspaper or through other media from where the notification reaches to the concerned parties. A tender notice should contain the following information.
a. Date, Time and Place of tender
b. Name of the authorities inviting tender
c. Nature of work and its location
d. Time of completion
e. The validity of Tender
f. Amount of earnest and security money
g. Cost of the complete set of tender forms, condition, estimated cost etc.
Read More: Estimate in Construction
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