What does tender acceptance mean?
Similarly, what does Tender mean in contracts?
To tender a contract means to present to another person or a company an offer of money for a service, according to West's Encyclopedia of American Law. Tendering a contract is a common legal process for bigger projects -- those in which a business offers to supply goods, perform a job or buy another business.
Subsequently, question is, what does Tender mean in business? To tender is to invite bids for a project or accept a formal offer such as a takeover bid. Tendering usually refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline.
Beside above, what does Tender mean in legal terms?
Legal Definition of Tender. A tender is an offer to do or perform an act which the party offering, is bound to perform to the party to whom the offer is made. A tender may be of money or of specific articles; these will be separately considered.
What is tender example?
Licensed from iStockPhoto. adjective. The definition of tender is easy to chew or being delicate or soft in action. An example of tender is a piece of steak that is not tough. An example of tender is the way in which a mother gently rubs her baby's back.