Eskom Procurement Book 2015

GLOSSARY

Tender:

A response to a tender notice issued by the buyer. See also Bid, Offer, Public tender and Quotation. Tender documents constitute the set of documents issued by the buyer which establish the object of procurement (the technical specifications and/or the terms of reference), specify proposed contract conditions and establish the procurement procedures to be followed. Analysis of all tenders/offers received by the buyer to appraise and assess the most advantageous and competitive tender/offer. See also Analysis of tenders, Life cycle costing and Tabulation of tenders/offers. In procurement through competitive tenders/offers the opening and reading of tenders/offers, conducted at the time and place specified in the tender documents, and in the presence of anyone who wishes to attend. A legal entity approached by the buyer to submit a tender/offer for a specific project. See also Bidder and Candidate. Any formal and competitive procurement procedure through which tenders/offers are requested, received and evaluated for the procurement of goods, works or services, and as a consequence of which an award is made to the tenderer whose tender/offer is the most advantageous. Stipulations, explicit or implicit, in a contract setting out the obligations and the rights of the contractual parties, as well as other conditions of contract. Conditions for payment for goods or services received as agreed between buyer and supplier, such as: Cash against Documents (CAD), Cash on Delivery (COD), Letter of Credit, etc. See also Payment. Scope of work for a service contract, equivalent to the specification of goods in a contract for the purchase of goods. See also Specification and Technical specification. A perfunctory tender/offer submitted by a tenderer with no serious intent of being awarded the contract. Often submitted when the tenderer wishes only to continue to be kept on the buyer’s eligibility list, or as a part of a collusive deal with other tenderers. The permissible variation of the specified value or quantity according to needs.

Tender documents:

Tender evaluation:

Tender opening:

Tenderer:

Tendering:

Terms of contract:

Terms of payment:

Terms of reference:

Token bid:

Tolerance:

234 CHAPTER 8