PPT - Calculation of Tender or Quotation B Com Notes | EduRev

Cost Accounting

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B Com : PPT - Calculation of Tender or Quotation B Com Notes | EduRev

 Page 1


TENDER
TENDER
It is an invitation from the owner to the 
contractor to execute some work at 
specified cost in specified time.  It is 
published in the form of tender notice in 
news papers, notice boards, gussets, 
etc. according to the cost of works. 
Page 2


TENDER
TENDER
It is an invitation from the owner to the 
contractor to execute some work at 
specified cost in specified time.  It is 
published in the form of tender notice in 
news papers, notice boards, gussets, 
etc. according to the cost of works. 
Classification of tenders:-
Classification of tenders:-
1.
1.
Open tender
Open tender
– An oral talk or written 
– An oral talk or written 
document between the Engineer 
document between the Engineer 
and the Contractor for certain small 
and the Contractor for certain small 
jobs to be performed.  Sometimes it 
jobs to be performed.  Sometimes it 
is advertised.
is advertised.
2.
2.
Sealed tender
Sealed tender
—Invited for 
—Invited for 
important or huge projects; wide 
important or huge projects; wide 
publicity is given; always written 
publicity is given; always written 
documents are made.
documents are made.
Page 3


TENDER
TENDER
It is an invitation from the owner to the 
contractor to execute some work at 
specified cost in specified time.  It is 
published in the form of tender notice in 
news papers, notice boards, gussets, 
etc. according to the cost of works. 
Classification of tenders:-
Classification of tenders:-
1.
1.
Open tender
Open tender
– An oral talk or written 
– An oral talk or written 
document between the Engineer 
document between the Engineer 
and the Contractor for certain small 
and the Contractor for certain small 
jobs to be performed.  Sometimes it 
jobs to be performed.  Sometimes it 
is advertised.
is advertised.
2.
2.
Sealed tender
Sealed tender
—Invited for 
—Invited for 
important or huge projects; wide 
important or huge projects; wide 
publicity is given; always written 
publicity is given; always written 
documents are made.
documents are made.
3.  
3.  
Limited tender
Limited tender
—Only a selected no. of 
—Only a selected no. of 
contractors are invited to quote their 
contractors are invited to quote their 
rates 
rates 
4. 4.
Single tender
Single tender
—Invitation is given to only 
—Invitation is given to only 
one firm to render a service by quoting 
one firm to render a service by quoting 
their rates.  If the quoted rates are high, 
their rates.  If the quoted rates are high, 
it will be negotiated prior to the 
it will be negotiated prior to the 
agreement of the contract.
agreement of the contract.
5. 5.
Rate contract
Rate contract
—usually adopted for 
—usually adopted for 
supply of materials, machine, tools & 
supply of materials, machine, tools & 
plant, etc. (items to the store).  It 
plant, etc. (items to the store).  It 
specifies the supply at a fixed rate 
specifies the supply at a fixed rate 
during the period of contract.  The 
during the period of contract.  The 
quantities are not mentioned in type of 
quantities are not mentioned in type of 
contract and the contractor is bound to 
contract and the contractor is bound to 
accept any order which would be placed 
accept any order which would be placed 
before him.
before him.
Page 4


TENDER
TENDER
It is an invitation from the owner to the 
contractor to execute some work at 
specified cost in specified time.  It is 
published in the form of tender notice in 
news papers, notice boards, gussets, 
etc. according to the cost of works. 
Classification of tenders:-
Classification of tenders:-
1.
1.
Open tender
Open tender
– An oral talk or written 
– An oral talk or written 
document between the Engineer 
document between the Engineer 
and the Contractor for certain small 
and the Contractor for certain small 
jobs to be performed.  Sometimes it 
jobs to be performed.  Sometimes it 
is advertised.
is advertised.
2.
2.
Sealed tender
Sealed tender
—Invited for 
—Invited for 
important or huge projects; wide 
important or huge projects; wide 
publicity is given; always written 
publicity is given; always written 
documents are made.
documents are made.
3.  
3.  
Limited tender
Limited tender
—Only a selected no. of 
—Only a selected no. of 
contractors are invited to quote their 
contractors are invited to quote their 
rates 
rates 
4. 4.
Single tender
Single tender
—Invitation is given to only 
—Invitation is given to only 
one firm to render a service by quoting 
one firm to render a service by quoting 
their rates.  If the quoted rates are high, 
their rates.  If the quoted rates are high, 
it will be negotiated prior to the 
it will be negotiated prior to the 
agreement of the contract.
agreement of the contract.
5. 5.
Rate contract
Rate contract
—usually adopted for 
—usually adopted for 
supply of materials, machine, tools & 
supply of materials, machine, tools & 
plant, etc. (items to the store).  It 
plant, etc. (items to the store).  It 
specifies the supply at a fixed rate 
specifies the supply at a fixed rate 
during the period of contract.  The 
during the period of contract.  The 
quantities are not mentioned in type of 
quantities are not mentioned in type of 
contract and the contractor is bound to 
contract and the contractor is bound to 
accept any order which would be placed 
accept any order which would be placed 
before him.
before him.
For a 
CONTRACT
CONTRACT to be valid, there 
must be an offer from the owner in 
the form of tender notice to get some 
specified work to be executed and 
there must be an acceptance from 
the contractor to execute the work, 
both the offer and the acceptance 
must be definite and legal.
Page 5


TENDER
TENDER
It is an invitation from the owner to the 
contractor to execute some work at 
specified cost in specified time.  It is 
published in the form of tender notice in 
news papers, notice boards, gussets, 
etc. according to the cost of works. 
Classification of tenders:-
Classification of tenders:-
1.
1.
Open tender
Open tender
– An oral talk or written 
– An oral talk or written 
document between the Engineer 
document between the Engineer 
and the Contractor for certain small 
and the Contractor for certain small 
jobs to be performed.  Sometimes it 
jobs to be performed.  Sometimes it 
is advertised.
is advertised.
2.
2.
Sealed tender
Sealed tender
—Invited for 
—Invited for 
important or huge projects; wide 
important or huge projects; wide 
publicity is given; always written 
publicity is given; always written 
documents are made.
documents are made.
3.  
3.  
Limited tender
Limited tender
—Only a selected no. of 
—Only a selected no. of 
contractors are invited to quote their 
contractors are invited to quote their 
rates 
rates 
4. 4.
Single tender
Single tender
—Invitation is given to only 
—Invitation is given to only 
one firm to render a service by quoting 
one firm to render a service by quoting 
their rates.  If the quoted rates are high, 
their rates.  If the quoted rates are high, 
it will be negotiated prior to the 
it will be negotiated prior to the 
agreement of the contract.
agreement of the contract.
5. 5.
Rate contract
Rate contract
—usually adopted for 
—usually adopted for 
supply of materials, machine, tools & 
supply of materials, machine, tools & 
plant, etc. (items to the store).  It 
plant, etc. (items to the store).  It 
specifies the supply at a fixed rate 
specifies the supply at a fixed rate 
during the period of contract.  The 
during the period of contract.  The 
quantities are not mentioned in type of 
quantities are not mentioned in type of 
contract and the contractor is bound to 
contract and the contractor is bound to 
accept any order which would be placed 
accept any order which would be placed 
before him.
before him.
For a 
CONTRACT
CONTRACT to be valid, there 
must be an offer from the owner in 
the form of tender notice to get some 
specified work to be executed and 
there must be an acceptance from 
the contractor to execute the work, 
both the offer and the acceptance 
must be definite and legal.
Procedure for inviting tender:-
Procedure for inviting tender:-
1. 1.
Preparation of tender documents
Preparation of tender documents
2. 2.
Issue of notice inviting tender or tender 
Issue of notice inviting tender or tender 
call notice
call notice
3. 3.
Submission and opening of tenders and 
Submission and opening of tenders and 
their scrutiny
their scrutiny
4. 4.
Acceptance of tender and award of 
Acceptance of tender and award of 
contract
contract
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