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Tendering is the process of choosing the best or cheapest company to supply goods or do a job by asking several companies to make offers for providing the products or doing the work. Tendering occurs in all parts of a business but is most familiar with government projects, construction, utilities, and infrastructure.
Governments are heavily into tendering out their projects as this ensures that the awarding of contracts is fair and free from bribery and nepotism and that no parties have the unfair advantage of separate, prior, closed-door negotiations for the agreement.