What to consider when submitting a financial offer


Arguably, the most substantial part of bidding – what makes (and very often breaks) the deal – is the financial offer submitted by the bidders. Once you are certain you have fulfilled all the requirements needed in order to be eligible to bid and have decided to give bidding a shot, you must very carefully consider the financial offer you will submit. Knowing with full certainty what the winning offer is going to be is virtually impossible, even more so if you have decided to participate in international bidding in a country you have never done business in previously.

As mentioned in “Things to Consider Before Preparing a Bid Offer”, sometimes tender specifications will include an indication of the expected value, which will essentially be the maximum amount that can be put down as an offer. The indicated amount should be used as a guide when deciding what your own offer will be. To be more precise, very often the winning offer is somewhere between 70-80 per cent (depending on the type of tender in question) of what the expected value is, giving an idea to bidding parties of what they can submit.

Yet another pointer for a suitable offer is the past winning offers. By looking at the pattern of previous tender offers, especially in the related business domain, you can infer an adequate amount to place that is more likely to lead you to success.

Once you’ve subscribed to Tenderio services you will have a wealth of information at your disposal regarding past tenders and winning offers. The Tenderio team keeps track of all the winning offers and passes on the information to those who need it. Furthermore, there are indicators of who won similar tenders in the field and the country you are interested in bidding in, as well as how many offers were received for each tender. Most importantly, the winning offer is also revealed!

The last thing to keep in mind is that you need to provide a detailed dissemination of different cost factors included in your offer, as these factors are the ones that will be looked upon when evaluating the different offers.

Explore your options and bid away!

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