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English definition of “tendering”

tendering

noun [U]
 
 
/ˈtendərɪŋ/
COMMERCE the process of choosing the best or cheapest company to supply goods or do a job by asking several companies to make offers for supplying the goods or doing the work: The whole process is done by competitive tendering. The laundry contract was awarded to the company that had offered the lowest price in the tendering process.
→  See also collusive tendering
(Definition of tendering from the Cambridge Business English Dictionary © Cambridge University Press)
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