competitive tendering

Competitive Tender

A way to distribute a bond to investors. In a competitive tender, the issuer receives bids from large companies or other investors to buy the bond issue; the highest bid receives the issue. The winner, at its discretion, may or may not distribute portions of the issue on the secondary market. The Bank of Canada uses competitive tenders to sell its bonds.

competitive tendering

the system of awarding contracts for public services on the basis of competitive tenders. Private sector firms as well as public sector organizations are invited to submit tenders to provide services previously run directly by public sector organizations e.g. local authority refuse-collection. The assumption underlying this is that competition for contracts will drive down costs and encourage efficiency Competitive tendering was encouraged from the 1980s onwards and eventually became compulsory (compulsory competitive tendering or CCT) for a range of local authority services. However, CCT was abolished in 2000 and replaced by BEST VALUE, whereby local authorities are under a duty to operate services with regard to economy, efficiency and effectiveness. In most cases contracts have been awarded to the ‘in-house’ organization. Where they are awarded to an external organization it is common for most of the public sector workforce to be transferred to the contractor. See ENABLING AUTHORITY, NEW PUBLIC MANAGEMENT, PURCHASER-PROVIDER SPLIT.
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Phase 3 of the HQ Project includes the competitive tendering and appointment of the
There is, however, more on so-called competitive tendering that is not well known and that shocks most who find it out.
In a request for proposals (RfP) tender, OPWP has sought proposals from interested bidders to provide financial and commercial consultancy services for the development of the project and to advise on the competitive tendering process.
However, it is important to note that the proposed project was originally subjected to competitive tendering, in which a European consortium won.
The announcement that the Scottish Government now intend to award CalMac ferry contracts directly to the state-owned company instead of going through a competitive tendering process is indeed welcome news.
Freemont says the cost is excessive and could have been reduced had the council gone to competitive tendering. Instead, the council negotiated with Wye Valley Demolition, who knew the site and were experienced in such work.
"Competitive tendering can create a strong incentive for rail to perform better," he explained at InnoTrans 2012 in Berlin, a gathering of rail transport technology stakeholders.
The firms that came through the competitive tendering process are DAC Beachcroft, Eversheds, Geldards Hill Dickinson, Hugh James and Morgan Cole.
Sanofi Pasteur MSD won a competitive tendering exercise and its Gardasil vaccine was selected to be used in UK schools next year.
The Public Accounts Committee said millions could be saved if competitive tendering is mandatory for legal services to the State.
The book really comes alive when it moves on to the more engineering-related chapters that look at pricing contracts and the art of competitive tendering. There's some useful stuff on how to put together a contract price make-up sheet--more items should go into working out a contract price than many companies realise.
Almost all appointments are made through a competitive tendering processes and this is no different from utilising specialist skills in other areas such as lawyers, property advice or accountancy support.

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