Restricted Tendering from Procurement Lexicon

Click here to download Procurement Lexicon, https://blog.fhyzics.net/procurement-lexicon Restricted tendering is a procurement method in which the buyer, typically a government or organization, invites a selected group of pre-qualified suppliers to submit competitive bids for a specific project or contract. It is employed to ensure that only suppliers with specific qualifications and capabilities are considered. In this process, potential suppliers must meet certain predefined criteria in a pre-qualification stage to be invited to submit detailed tenders. Restricted tendering helps streamline the procurement process, improve supplier quality, and promote fair competition among a limited pool of trusted vendors.

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