Apr 7, 2012

Advertising (In Project Procurement)

An appropriately executed bid and contract award process involves at least two following steps:
(a)     Preparing an invitation for bids, describing the building design and specifications clearly, accurately, and completely by avoiding ambiguously provisional specifications or requirements.; and
(b)  Publicizing the invitation for bids in a newspaper (or more than one newspapers) of general circulation or other means as suitable to ensure dispersal to prospective bidders in sufficient time to enable them to prepare and present bids.
Do you know preparing a bid for invitation is the first step in procuring head start construction projects? All professionals involve in project such as project manager and design teams can use this resource to learn about the steps required and the mistakes to avoid in the bidding process. Advertisement in the newspaper usually assert important matters only.  Details usually will be submitted with the covering letter to tenderers which is normally given with the tender documents.  This is essential as it would help to keep advertisement costs low.
Except for the government department or government statutory body, it is possible to take bids before a funding or contract awarded. This can save time when it is essential to receive equipment as soon as possible after a fund begins. To commence this process the client will contact the suitable buyer/contractor. Once the fund approval given, the client can right away place the said order

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