Tender means “bid”...or, more specifically, to ask for a bid. Tenderly.
Competitive tender is a competitive bid process, one which is usually required for projects where larger public institutions or governments are the big fat buyer.
To effect this love, a request for bid/tender document is sent out to solicit bids. In the competitive tender situation, firms try to one-up each other to impress those who make the final decision.
The process isn’t all that different from applying to a job ad. The job description asks for some base level of skills, like being able to read and use Google Sheets and explain how the Higgs boson collider works. And it asks for a minimum level of experience and education, like having passed a Shmoop Course…and please respond by Tuesday.
The job hunter responds with their skills, their level of experience, and their degrees (all hopefully far above the minimum requirements) as well as other information to sway the decision in their favor. And they respond by Tuesday.
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Finance: What is a tender offer?5 Views
finance a la shmoop what is a tender offer isn't that how all offers should
be made you know tenderly like like Elvis and he was the king yeah you know [Man discussing tender offers]
Love Me Tender love me shmoop this last album anyway tendering is just a fancy [Elvis dancing on stage]
semi British II word for asking and it applies most often to governments and
large corporate entities seeking bids and you know for stuff like as part of
its huge commitment to providing true diversity in communities the US [Man wearing giant foam diversity finger]
government is going to build a chain of establishments called
stocks and bonds yeah these stocks and these bonds so there will be bondage [Wooden stocks and furry bonds appear]
parlors in each of the 50 capital cities in America with opposite stylings of a
whip it tenders for offers from contractors who submit bids to build the
building shells the noise reducers the you know leather storage areas the first
aid facilities yeah and it happens and so on why is this hole tender process [Man bent over a table and doctor walks away]
needed like why can't the government just hire their buddies to go out and
build it well if they had no guidelines or um discipline him then the room for
corruption in all kinds of misappropriation and it would be too big [Uncle sam stood beside woman on construction site]
and arrests would be made and cuffs would come out and file not the fun kind
so there's a process the government tenderly asks for bids and then people
you know submit well the same applies to corporate America things like takeover [Men shaking hands]
bids like good I don't know Google's paying all cash to buy Netflix they make
a tender offer at 300 bucks a share to buy all the shares out there why is it
tender well because Google is gently asking and hoping and praying that [Google hugging Netflix stock]
Netflix shareholders will in fact sell them their shares for 300 bucks apiece
once Google has enough share as well they effectively own the company
remember the common shares both the board and they can do with it what they
want hopefully those Netflix errs will you know behave these guys really just [Man smashing TV]
need to Netflix and chill