Answer :
Answer:
Final answer:
Tenders can be classified as negotiated, selected, or open based on the level of participation required from potential suppliers.
Explanation:
In the context of business and procurement, tenders are classified based on the level of participation required from potential suppliers. There are three main types of tenders: negotiated tender, selected tender, and open tender.
A negotiated tender is a process where the buyer engages in direct negotiations with a select group of suppliers. This type of tender is typically used for complex projects or when the buyer has specific requirements that need to be discussed and negotiated.
A selected tender is a process where the buyer invites specific suppliers to submit their bids. The buyer carefully selects the suppliers based on their qualifications, experience, and ability to meet the buyer's requirements.
An open tender is a process where any interested supplier can submit their bid. This type of tender allows for a wide range of suppliers to participate, promoting competition and potentially resulting in better pricing and quality.
The choice of tendering method depends on various factors such as the complexity of the project, the level of competition desired, and the buyer's specific requirements.
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