Tender
A formal offer to perform work or supply goods at a specified price, often in response to an invitation to bid.
A tender is a formal offer to undertake a project at a specified price, providing transparency and competition in procurement. It is crucial for ensuring fair pricing, aligning expectations, and selecting qualified contractors. By facilitating competitive bidding, tenders support informed decision-making, enhance accountability, and contribute to successful project delivery by ensuring that contracts are awarded to the most suitable and capable bidders, aligning with project goals and stakeholder needs.
Used in a sentence
The contractor submitted a tender for the new office building.
Synonyms/variation
Bid
Proposal
Stay updated on what’s happening in construction.
Subscribe to Blueprint, Procore’s free construction newsletter, to get content from industry experts delivered straight to your inbox.
Learn MoreLearn more about Tender
Construction Business Development: Tracking and Winning the Right Opportunities
Construction business development isn’t just a response to deadlines: It’s a long-term strategy rooted in focus, visibility and timing. Delays, funding gaps and market pressure have made it harder to predict which pursuits will move forward and which will disappear after award. At the same time, clients expect more from their GC partners: earlier involvement, […]
Qualifications-Based Selection: Prioritizing Expertise over Initial Cost
For large or complex construction projects, owners and public agencies often use qualifications-based selection (QBS) to prioritize experience and capability over merely selecting the lowest bid. QBS involves owners choosing architectural and construction firms that are most qualified for the work based on their relevant experience, track record of success and proposed approach to the […]
Mitigating the Impact of Tariffs in Construction
The construction industry faces constant financial uncertainty, and the 2025 escalation of global tariffs mandated by executive order drew attention to their potential impacts. While no crystal ball can tell exactly when they will go into effect, how long they will last or how much they will fluctuate, one thing is certain: Tariffs can affect the […]
Understanding Subcontractor Bid Packages in Construction
Construction bid packages can have a cascading impact on the success of a construction project. The quality of a bid project may affect the quality of the bids, which in turn can impact the project budget and the final outcomes of the work. This article will discuss the importance of bid packages in the contractor-subcontractor […]
How can we improve this glossary entry?
By clicking this button, you agree to our Privacy Notice and Terms of Service.