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Tender Manager
Glossary & Definitions
Glossary & Definitions
Updated this week

Glossary

ITT – Invitation to Tender

TQ – Tender Query

PFC – Points for Clarification

Supplementary ITT – Supplementary for ‘Invitation to Tender’

Definitions

Tender – Tender is a method of obtaining resources necessary to carry out a work.

Tenderer – User who raises the tender along-with requirements and invites bids (quotations) from potential bidders.

Tender team – A group of people who handle the issued tender and perform activities to smoothen the tender process.

Bidder – User who shows interest in the issued tender and proposes a best price to complete the work.

Package – Project name for which tender is being raised. In Asite, it is managed as part of 'User Roles and Access'.

Custom attribute – It provides options to customize the Tender Manager app by configuring its attributes and defining values for those attributes.

Tracker – This shows status of activities by invited bidder on a specific tender.

Respond – This is a task assigned and meant for responding back on the form by selected task recipients only.

For information – This is a task assigned and meant for information of selected task recipients only.

Quotation – Total offered price for the mentioned package of requirements.

Decline – Refuse to submit a quotation against the invitation received.

Response – Creating a reply on the original form message.

Evaluate tenders – Analyse and estimate received tenders from potential bidders against the tender.

Award tender – To allocate the tender to a potential bidder as per their quotes to start work within the defined period.

Reject tender – This indicates that quotation submitted by bidder for the requirement is refused by the tenderer.

Close tender – This indicates that tender is closed due to any reason and tenderer doesn’t want to award anyone.

Late inclusion – When potential bidder is invited for the tender after tender was released, such a bidder is called late inclusive bidder.

System activity – Any activity which is not performed manually. It is automatically completed by system. For example, auto assign any task by responding to other user.

Public tender – Public tenders are displayed in marketplace where all the potential bidders can send their expression of interest. Tenderer can also be allowed to send invitation to potential bidders.

Private tender – This is a tender where only invited bidders can participate in tender process and submit their quotation.

Sealed – In this type of tenders, responses submitted by bidders are blocked and not visible to tender team before the release date. All the responses are released on mentioned release date and time in tender. In this type of tender, release date is mandatory.

Unsealed – In this type of tenders, tender team can view and analyse submitted bids (quotations) on the spot as and when bidders submit it. In this type of tender, release date is not mandatory.

Tender Release date – The date when tender is to be issued.

Tender End Date – The last date to submit quotation for the tender. Bidders are expected to submit their quotation on or before the end date. Once date passed, they will not be allowed to submit their quotation.

Tender Review Date – The date and time when tender team can view all the submitted quotes. This is essential specifically in case of sealed tender.

Standard BOQ – To add a package requirement in traditional method is called standard BOQ (Bill of Quantities) method where tenderer lists out all the requirement details such as name, item, unit, quantity and rate.

Hierarchical BOQ – This helps tender team to display requirements section wise in a structural manner.

Attachment – This is a platform functionality to attach external documents.

Association – This is a platform functionality to attach documents already published in Asite.

Addendum – To update the information or to append additional information in already issued tender.

Tender Query – This is an inquiry that can be raised by bidders and they can then be responded to by tenderers.

Point for Clarification – For the clarification on any topic or information, this can be used by both the parties.

Supplementary – This is used for late inclusion of potential bidder in already raised tender.

Document register – A report which logs all the attached and associated documents by tenderer and by bidders. In this report, a bidder cannot view another bidder’s documents. Bidders can only view their own documents whereas tenderer can view documents of all bidders.

Bid Optimizer – A report shows comparison of all the bids (quotations) submitted by potential bidders with the indication of high and low bid (quotation) details.



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