Among various types of tendering methods, selective tendering allows only selected vendors to place bids. In other words, only prequalified vendors can put their proposals in the bidding process. Selection criteria for prequalification may be set based on the nature of the project, vendor’s capabilities and past performances. In most cases, clients are requesting vendorsContinue reading “What is selective tendering?”
Tag Archives: tendering
Construction risk assessment at tender stage
In construction, Risk assessments are a very important factor in each stage of a project. Before the construction at the tendering stage, the contractor should do a proper risk assessment. There are two kinds of risk in the construction process. First one is the risks which can quantify (quantifiable risks). And the other one, whichContinue reading “Construction risk assessment at tender stage”
Tendering process 1st step -decision to tender
The tendering process in construction-1st step Incorrect tendering and estimation process can lead a company into dangerous situations. Underestimation of a project can hurt owners and employees of the company at the construction stage. And overestimation can push the company out of the competition (tender rejections). Therefore any company should have a proper strategy orContinue reading “Tendering process 1st step -decision to tender”
6 most popular types of tendering methods in the construction industry
There are various types of tendering methods, to analyze, negotiate and award a project to a contractor. But We can only identify two types of contractual bindings in the construction industry. The first is a standing offer under a maintenance work for a specified period, and this contract type is rare compared to others. TheContinue reading “6 most popular types of tendering methods in the construction industry”
Why Remeasurement(Re measurable) contracts / Unit price contracts
The re-measurable/remeasurement contract is the most popular type of contract used in the former construction industry. But even so, large construction companies are using this method to hire subcontractors for tasks such as painting, plastering, etc. In this method, the companies will receive the payment based on actual work. Compared to other procurement methods, theContinue reading “Why Remeasurement(Re measurable) contracts / Unit price contracts”
Procurement methods in Construction/ types of contracts
What is procurement means to the construction industry? Meaning of Procurement in everyday language is the action of acquiring or obtaining process of any kind of service or commodity. When its come to the construction industry acquiring or obtaining strategy is a time-consuming and costly process. Therefor different type of contract processes are there asContinue reading “Procurement methods in Construction/ types of contracts”
5 pros & cons of Lumpsum Contracts or Fixed price Contracts (with video explain)
What is a Lump sum contract or Fixed price contract Lump sum contracts are the most favourite contract (procurement) type used in the construction industry. Also known as fixed-price contracts. Because in these contracts, the contract price is fixed and agreed at the initial stage. In industry, this contract type is recognizing as one ofContinue reading “5 pros & cons of Lumpsum Contracts or Fixed price Contracts (with video explain)”