Lesson 1: What is a tender?

What is a tender?
An offer to carry out work, supply goods, or buy land, shares, or another asset at a stated fixed price.

www.oxforddictionaries.com

synonyms: 
bid, offer, quotation, quote, estimate, estimated price, price; proposal, submission 

While this definition is technically correct, a tender is much more than this.  

A tender is a prime opportunity for your organisation to market your goods or services to a new client. On the downside, it also requires a significant investment in time and resources to succeed.  

Tendering has become standard practice in business. They provide a formal framework to source goods and services in a fair and equitable environment, bound by probity and transparency. They are formal in the process, but in terms of the content, they are used to market and sell your business, products and services!