Bid

A formal submission by a bidder or tenderer in response to a call for tender.

Call-off

A market approach where, rather than undertaking a competitive bid or sole-source, a work package is awarded by issuing a purchase order or other … Read more

Competitive bid

A market approach where multiple suppliers and contractors are invited to submit sealed bids to deliver goods or services.

Competitive tension

The concept that if two or more contractors are invited to bid for a tender, they are more likely to offer competitive prices or quality … Read more

Contracting strategy

The precursor to the procurement and contracting plan. A formal statement of how the whole project will be structured from the perspective of the … Read more

Free-issue

A free-issue item is one that is provided to the supplier or contractor rather than being supplied by the contractor. It is common in … Read more

Local content

A requirement or an expectation that goods or services should be sourced locally by a business or project. The definition of local varies widely, … Read more

Market approach

The way in which a work package is to be put out to the market. Market approaches include: Competitive bid, Sole-source, and Call-off.

Pre-award

The period from when Procurement receives a direction to issue a tender to the point at which the contract is signed by both parties.

SoW

Statement of Work, or Scope of Work. The formal description of goods and/or services to be provided by a contractor. It may be prepared by … Read more

Tender

The process of calling for competitive bids to deliver goods or services.

Work package

A line item on a procurement and contracting plan. A work package has a defined scope of work that can be awarded to a single … Read more