Answer :
Final answer:
The 'Select Tender' allows the entity to choose a contractor based on bid and plan quality, while the 'Open Tender' awards the contract to the lowest bidder with the best plan. 'Select Tender' considers other factors besides price, while 'Open Tender' promotes transparency and fairness.
Explanation:
In bidding procedures, two common methods are the 'Select Tender' and the 'Open Tender.' The 'Select Tender' allows the entity in charge to choose a contractor based on their bid and the quality of their plan for the project. On the other hand, the 'Open Tender' invites multiple contractors to submit tenders, and the contract is awarded to the lowest bidder who presents the best plan.
The advantage of the 'Select Tender' is that it allows the entity to consider other factors, such as the reputation of the bidder, in addition to the price. This means that the overall value of the contract can be maximized by choosing the most qualified contractor. On the other hand, the advantage of the 'Open Tender' is that it promotes transparency and fairness by giving all contractors an equal chance to compete for the project.
