Informal Tender definition

Informal Tender means a process whereby offers are invited without necessarily giving a firm closing date. As offers are received, they are opened as they are received. Bidders may be invited to increase their bids, possibly having been informed that a higher bid has been received following a closing date for initial bids. The invitation to submit further bids shall be subject to a final bid closing date. Should a higher bid be received after the final bid closing date the Council makes its position clear that in this event any higher offer being received before completion of the sale, the Council may be obliged to consider it.
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Informal Tender means a tender which is not advertised in the Gazette, but for which competitive quotations have been obtained;
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Examples of Informal Tender in a sentence

  • The Decision Notice dated 20th April 2016 , indicative plans and the notice of decision can be downloaded from the East Riding of Yorkshire planning website at:- The property is offered for sale by Informal Tender.

  • METHOD OF SALE The land is being offered for sale by Informal Tender (unless sold prior), as a whole or in three lots, as may suit buyer's requirements, the closing date for tenders being Wednesday 26 September 2018 at 12 noon.

Related to Informal Tender

  • Legal tender means a medium of exchange, including specie that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.

  • U.S. Legal Tender means such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts.

  • Optional Tender means any tender of VRDP Shares by a Beneficial Owner or its Agent Member to the Tender and Paying Agent, other than a Mandatory Tender, for Remarketing or, in the event (i) no Remarketing occurs on or before the Purchase Date, or (ii) pursuant to an attempted Remarketing, VRDP Shares remain unsold and the Remarketing Agent does not purchase for its own account the unsold VRDP Shares tendered to the Tender and Paying Agent for Remarketing (provided that the Remarketing Agent may seek to sell such VRDP Shares in a subsequent Remarketing prior to the Purchase Date), for purchase by the Liquidity Provider pursuant to Section 2 of Part II of the Articles Supplementary and this Agreement.

  • e-Tender means Bids / Quotation / Tender received from a Firm / Tenderer / Bidder online.

  • BID/Tender means the Techno Commercial and the Price Bid submitted by the Bidder along with all documents/credentials/attachments, formats, etc., in response to this Bid Document, in accordance with the terms and conditions hereof.