Thus the employer may be offered only ‘a lottery of prices’ and not necessarily the lowest price for which his project could be constructed. Also, knowing their chances of gaining the contract are small, contractors may not study the contract in detail to work out their minimum price, but simply quote a price that will be certain to bring them a profit if they win the contract. However, this method can be said to be wasteful of contractors’ resources since many may spend time preparing tenders to no effect. Sometimes he calls for a deposit from applicants, the deposit being returned ‘on receipt of a bona fide tender’. Under open tendering the employer advertises his proposed project, and permits as many contractors as are interested to apply for tender documents. Types of Tendering Methods in Construction 1.
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