Tender, Quotation, Proposal

[zafar]

Hi Fellows,

Please point out the distinction and define
briefly these three terms,
that make me a bit confuse [(].

Best regards,
zafar

[Shahbaz]

Tender
something used as an official medium of payment

Quotation
The actual price or the bid or ask price of either cash commodities or futures contracts.
OR
An offer to sell goods at a stated price and under specified conditions.

Proposal
Any offer or other submission used as a basis for pricing a contract, contract modification, or termination settlement or for securing payments there under.


Source www.Google.com.pk

[zafar]

Thanks Shahbaz angootha chap,

May any one further clear these terms by putting them
in practical scenario for exact understanding.

Best regards for every one
Bye
zafar

[maani]

hi,
shabaz the term tender as you described above is related with the concept of "Money"...

TENDERit is an invitation by a client (person or org.)to suppliers (of some product or services) to offer their prices.The invitation may be in the form of a document or an advertisment.e.g, Mobilink advertised a tender notice in newspaper for construction of a new building...this means that they are inviting different construction companies to offer their prices at which the construction companies are willing to complete the project...

Proposalin response to above tender notice different construction companies will offer their services to mobilink...the construction companies will send a written document(proposal) to mobilink which will include the terms and conditions on which they are willing to construct the site and the price of completing the work...

QUOTATIONthe price of completing a project or the prices of goods in form of a written document is called quotation...it is issued by supplier...usually included in the Proposal...

[mushi]

hmmmmmmm!!

[zafar]

Thanxssssssssss maani

[maani]

you are welcome buddy