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In construction management, a clear distinction exists between a tender and a contract, although they are closely related stages in the procurement process. A tender is an offer submitted by a contractor in response to an invitation issued by a client or owner to execute specified work at a stated price within a stipulated time. It represents the contractor’s proposal to undertake the project under defined conditions. The tender document generally includes drawings, specifications, bill of quantities, schedule of rates, time schedule, and general and special conditions. When a contractor studies these documents and quotes a price, that submission is known as the tender. At this stage, it is only an offer and does not create a binding agreement unless it _________ ________ _________ ____ ____ ___ ________ ________ ___ ____.
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