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Meaning of “tendering” in the English Dictionary

"tendering" in Business English

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tenderingnoun [U]

uk   us   /ˈtendərɪŋ/
COMMERCE the ​process of choosing the best or ​cheapestcompany to ​supplygoods 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 ​laundrycontract was ​awarded to the ​company that had ​offered the ​lowestprice in the tendering ​process.
(Definition of tendering from the Cambridge Business English Dictionary © Cambridge University Press)
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