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Meaning of “tendering” in the English Dictionary

"tendering" in Business English

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tenderingnoun [U]

uk   /ˈtendərɪŋ/ us  
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.
(Definition of tendering from the Cambridge Business English Dictionary © Cambridge University Press)
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