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Request For Tender
An invitation to tender (ITT, otherwise known as a call for bids or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been previously assessed for suitability by means of a supplier questionnaire (SQ) or pre-qualification questionnaire (PQQ). The term "notice inviting tenders" (NIT) is often used in purchasing in India. An ITT differs from a request for quotation (RFQ) or a request for proposal (RFP), in which case other reasons (technology used, quality) might cause or allow choice of the second best offer. An RFP is a request for a price from a buyer but the buyer would also expect suggestions and ideas on how the project work should be done. RFPs are thus focused on more than just pricing/cost, they entail a bit of consulting from the contractor or vendor. The closest equi ...
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Indonesian Tender Announcement 2009
Indonesian is anything of, from, or related to Indonesia, an archipelagic country in Southeast Asia. It may refer to: * Indonesians, citizens of Indonesia ** Native Indonesians, diverse groups of local inhabitants of the archipelago ** Indonesian women, overview of women's history and contemporary situations * Indonesian language or ''Bahasa Indonesia'', the official language of Indonesia ** Indonesian languages, overview of some of the 700 languages spoken in Indonesia ** Indonesian names, customs reflecting the multicultural and polyglot nature of Indonesia * Indonesian culture, a complex of indigenous customs and foreign influences ** Indonesian art, various artistic expressions and artworks in the archipelago ** Indonesian cinema, a struggling and developing industry ** Indonesian literature, literature from Indonesia and Southeast Asia with shared language roots ** Indonesian music, hundreds of forms of traditional and contemporary music ** Indonesian philosophy, a tradition o ...
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Government Procurement
Government procurement or public procurement is the procurement of goods, services and works on behalf of a public authority, such as a government agency. Amounting to 12 percent of global GDP in 2018, government procurement accounts for a substantial part of the global economy. To prevent fraud, waste, corruption, or local protectionism, the laws of most countries regulate government procurement to some extent. Laws usually require the procuring authority to issue public tenders if the value of the procurement exceeds a certain threshold. Government procurement is also the subject of the Agreement on Government Procurement (GPA), a plurilateral international treaty under the auspices of the WTO. Sustainable public procurement practices have been identified as a part of the United Nations' Sustainable Development Goal 12 for "responsible consumption and production". This goal has 11 targets; target 12.7 is: "Promote public procurement practices that are sustainable, in accordance ...
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Negotiation
Negotiation is a dialogue between two or more people or parties intended to reach a beneficial outcome over one or more issues where a conflict exists with respect to at least one of these issues. Negotiation is an interaction and process between entities who aspire to agree on matters of mutual interest, while optimizing their individual utilities. This beneficial outcome can be for all of the parties involved, or just for one or some of them. Negotiators need to understand the negotiation process and other negotiators to increase their chances to close deals, avoid conflicts, establishing relationship with other parties and gain profit and maximize mutual gains. It is aimed to resolve points of difference, to gain advantage for an individual or collective, or to craft outcomes to satisfy various interests. Distributive negotiations, or compromise, is conducted by putting forward a position and making concessions to achieve an agreement. The degree to which the negotiating ...
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West Dunbartonshire Council
250px|A compass rose with west highlighted in black West is one of the four cardinal directions or points of the compass. It is the opposite direction from east, and is the direction in which the sun sets. Etymology The word "west" is a Germanic word passed into some Romance languages (''ouest'' in French, ''oest'' in Catalan, ''ovest'' in Italian, ''oeste'' in Spanish and Portuguese). As in other languages, the word formation stems from the fact that west is the direction of the setting sun in the evening: 'west' derives from the Indo-European root ''*wes'' reduced from ''*wes-pero'' 'evening, night', cognate with Ancient Greek ἕσπερος hesperos 'evening; evening star; western' and Latin vesper 'evening; west'. Examples of the same formation in other languages include Latin occidens 'west' from occidō 'to go down, to set' and Hebrew מַעֲרָב maarav 'west' from עֶרֶב erev 'evening'. Navigation To go west using a compass for navigation (in a place where magnetic ...
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Surety
In finance, a surety , surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the ''obligee'') a certain amount if a second party (the ''principal'') fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation. The person or company providing the promise is also known as a "surety" or as a "guarantor". Overview A surety bond is defined as a contract among at least three parties: * the ''obligee'': the party who is the recipient of an obligation * the ''principal'': the primary party who will perform the contractual obligation * the ''surety'': who assures the obligee that the principal can perform the task European surety bonds can be issued by banks and surety companies. If ...
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Performance Bond
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money, intended to secure a futures contract, commonly known as margin. History Performance bonds have been around since 2,750 BC. The Romans developed laws of surety around 150 AD, the principles of which still exist. Overview A job requiring a payment and performance bond will usually require a bid bond, to bid the job. When the job is awarded to the winning bid, a payment and performance bond will then be required as a security to the job completion. For example, a contractor may cause a performance bond to be issued in favour of a client for whom the contractor is constructing a building. If the contractor fails to construct the building according to the specifications laid out by the contract (most often due to the bankruptcy of the contr ...
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Statement Of Work
A statement of work (SOW) is a document routinely employed in the field of project management. It is the narrative description of a project's work requirement. It defines project-specific activities, deliverables and timelines for a vendor providing services to the client. The SOW typically also includes detailed requirements and pricing, with standard regulatory and governance terms and conditions. It is often an important accompaniment to a master service agreement or request for proposal (RFP). Overview Many formats and styles of statement of work document templates have been specialized for the hardware or software solutions described in the request for proposal. Many companies create their own customized version of SOWs that are specialized or generalized to accommodate typical requests and proposals they receive. However, it is usually informed by the goals of the top management as well as input from the customer and/or user groups. Note that in many cases the statement of w ...
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Impartiality
Impartiality (also called evenhandedness or fair-mindedness) is a principle of justice holding that decisions should be based on objective criteria, rather than on the basis of bias, prejudice, or preferring the benefit to one person over another for improper reasons. Legal concept European Union law refers in the Charter of Fundamental Rights of the European Union to: *A right to good administration: :''Every person has the right to have his or her affairs handled impartially, fairly and within a reasonable time by the institutions, bodies, offices and agencies of the Union'' (Article 41) *A right to an effective remedy and to a fair trial: :''Everyone is entitled to a fair and public hearing within a reasonable time by an independent and impartial tribunal previously established by law'' (Article 47).European Parliament, Council and CommissionCharter of Fundamental Rights of the European Union 26 October 2012 Religious concepts Buddhism *Developing seven factors are conducive to ...
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Request For Information
A request for information (RFI) is a common business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes. An RFI is primarily used to gather information to help make a decision on what steps to take next. RFIs are therefore seldom the final stage and are instead often used in combination with request for proposal (RFP), request for tender (RFT), and request for quotation (RFQ). In addition to gathering basic information, an RFI is often used as a solicitation sent to a broad base of potential suppliers for the purpose of conditioning suppliers' minds, developing strategy, building a database, and preparing for an RFP, RFT, or RFQ. The ubiquitous availability of the Internet has made many government agencies turn either to state-run or vendor operated websites which provide listings of RFIs as well as RFPs and RFQs. Many allow vendors to sign up at no charge to rec ...
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Common Procurement Vocabulary
The Common Procurement Vocabulary (CPV) has been developed by the European Union to facilitate the processing of invitations to tender published in the Official Journal of the European Union (OJEU) by means of a single classification system to describe the subject matter of public contracts. It was established by Regulation (EC) No 2195/2002 of the European Parliament and of the Council on the Common Procurement Vocabulary (CPV) and amended by European Commission Regulation (EU) No. 213/2008 http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32008R0213&qid=1429986881823&from=EN issued on 28 November 2007. Description CPV codification consists of a main vocabulary which defines the subject of the contract, and a supplementary vocabulary to add further qualitative information. The main vocabulary is based on a tree structure made up with codes of up to 9 digits (an 8 digit code plus a check digit). This combination of digits is associated with a wording that describes the typ ...
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Brexit
Brexit (; a portmanteau of "British exit") was the withdrawal of the United Kingdom (UK) from the European Union (EU) and the European Atomic Energy Community (EAEC or Euratom) at 23:00 31 January 2020 GMT (00:00 CET). The UK is the first and only country formally to leave the EU, after 47 years of having been a member state of the EU and its predecessor, the European Communities (EC), since 1 January 1973. It continued to participate in the European Union Customs Union and European Single Market during a transition period that ended on 31 December 2020 at 23:00 GMT (00:00 CET). The European Union and its institutions have developed gradually since their establishment, including 47 years of British membership, and grew to be of significant importance to the UK. Throughout that time Eurosceptic groups had existed, opposing aspects of the Union and its predecessors. Prime Minister Harold Wilson’s pro-Europe government held a referendum on continued EC membership in 1975 in which ...
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European Economic Area
The European Economic Area (EEA) was established via the ''Agreement on the European Economic Area'', an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association. The EEA links the EU member states and three EFTA states (Iceland, Liechtenstein, and Norway) into an internal market governed by the same basic rules. These rules aim to enable free movement of persons, goods, services, and capital within the European Single Market, including the freedom to choose residence in any country within this area. The EEA was established on 1 January 1994 upon entry into force of the EEA Agreement. The contracting parties are the EU, its member states, and Iceland, Liechtenstein, and Norway. The EEA Treaty is a commercial treaty and differs from the EU Treaties in certain key respects. According to Article 1 its purpose is to "promote a continuous and balanced strengthening of trade and economic relation" ...
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Tenders Electronic Daily
Government procurement or public procurement is undertaken by the public authorities of the European Union (EU) and its member states in order to award contracts for public works and for the purchase of goods and services in accordance with the principles underlying the Treaties of the European Union. Public procurement represents 13.5% of EU GDP as of 2007, and has been the subject of increasing European regulation since the 1970s because of its importance to the European single market. According to a 2011 study prepared for the European Commission by PwC, London Economics and Ecorys, the UK, France, Spain, Germany, Poland and Italy were together responsible for about 75% of all public procurement in the EU and European Economic Area, both in terms of the number of contracts awarded through EU-regulated procedures and in value. The UK awarded the most contracts in value terms and France had the highest number of contracts. Although the United Kingdom left the EU on 31 January 2020 ...
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European Union
The European Union (EU) is a political and economic union of member states that are located primarily in Europe. Its members have a combined area of and an estimated total population of about 447million. The EU has developed an internal single market through a standardised system of laws that apply in all member states in those matters, and only those matters, where members have agreed to act as one. EU policies aim to ensure the free movement of people, goods, services and capital within the internal market; enact legislation in justice and home affairs; and maintain common policies on trade, agriculture, fisheries and regional development. Passport controls have been abolished for travel within the Schengen Area. A monetary union was established in 1999, coming into full force in 2002, and is composed of 19 EU member states which use the euro currency. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison). The EU and Euro ...
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E-procurement
E-procurement (electronic procurement, sometimes also known as supplier exchange) is the business-to-business or business-to-consumer or business-to-government purchase and sale of supplies, work, and services through the Internet as well as other information and networking systems, such as electronic data interchange and enterprise resource planning. The e-procurement value chain consists of indent management, e-Informing, e-Tendering, e-Auctioning, vendor management, catalogue management, Purchase Order Integration, Order Status, Ship Notice, e-invoicing, e-payment, and contract management. Indent management is the workflow involved in the preparation of tenders. This part of the value chain is optional, with individual procuring departments defining their indenting process. In works procurement, administrative approval and technical sanction are obtained in electronic format. In goods procurement, indent generation activity is done online. The end result of the stage is taken as i ...
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