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Home > News & Events >Events Tender Glossary of Terms Used in Business Document

Hanfong New Energy devote to the solar photovoltaic system include MPPT solar controller. Hanfong is an car power inverter suppliers, power inverter manufacturers located in Guangzhou City. when summer coming always receive many tender document. Below let’s learn some Glossary of Terms generally used in the tender document. 
 
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Bidder: Bidder is a person or an entity who submits the bid document under this tender.
 
Blacklisting: It is enlisting or including the name of a person, affirm, or a company in a list seen as unacceptable or untrustworthy. Once the name is included in such a list, the person or the company is looked by suspicion and may not be allowed to participate in a bidding process.
 
Bid Price: The price quoted by the Bidder in Bid Form.
 
Bill of Quantities: The Priced and completed Bill of Quantities forming part of the Bid.
 
Contract:  The Contract means the agreement entered into between the Nepal Telecom and the Supplier, as recorded in the contract agreement form signed by the parties, including all amendments and appendices thereto and all documents incorporated by reference therein;
 
Contract Award: It is the decision of Nepal Telecom to give responsibility to execute a project through contract agreement signed with a successful bidder. The awardee is responsible to execute the contract as per the agreement made with Nepal Telecom.