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English definition of “tender”

tender

noun     /ˈtendər/
[C] COMMERCE a written or formal offer to supply goods or do a job for an agreed price : receive a tender Competitive tenders must be received by 1 p.m.invite tenders (to do/for sth) Morocco is inviting tenders to build two wind farms .submit a tender (to do/for sth) The company said it will submit tenders to develop three oil fields in the area .
[C or U] COMMERCE a method of choosing the best company to supply goods or do a job by asking several companies to make offers for the work : win a tender (for/to do sth) The company won a tender to start an analogue cellular network .put sth out to tender The drilling rights have been put out to tender.
[C] (also tender offer) FINANCE, STOCK MARKET an occasion when a company sells new shares to those who make offers for them above a particular lowest price . The company calculates the strike price (= final price to be paid ) in relation to the total demand and the prices offered : All tenders above the strike price will be accepted . Shares in the insurance group will be sold through tenders. They made a cash tender of $15.50 per share . The share tender was over-subscribed. If you buy shares in the retail tender offer , they will be free of transfer charges for up to 42 days after allocation .
→ See also legal tender, sealed-bid tender, self-tender
(Definition of tender noun from the Cambridge Business English Dictionary © Cambridge University Press)
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