Open Tendering

Open tendering is the process aimed at acquiring goods or/and services at the lowest price. The belief is to stimulate competition and minimize discrimination. This is a transparent procurement process which allows fair play for competing contractors, suppliers, or vendors. There are 2 types of biddings- open bidding (seals are open in full view) and closed bidding (seals are open in view of selective audience). It is also known as open competitive bidding, open competition or open solicitation.