What does the term tender means?
What does the term tender means?
1 : an unconditional offer of money or service in satisfaction of a debt or obligation made to save a penalty or forfeiture for nonpayment or nonperformance. 2 : an offer or proposal made for acceptance: such as. a : an offer of a bid for a contract. b : tender offer.
What does tendered mean in legal terms?
Tender is to unconditionally offer money or performance to meet an obligation. The term most commonly arises in the context of the contractual sale of goods.
What is an example of tender?
The definition of tender is easy to chew or being delicate or soft in action. An example of tender is a piece of steak that is not tough. An example of tender is the way in which a mother gently rubs her baby’s back. (nautical) Likely to heel easily under sail; crank.
What is the adjective for tender?
adjective. /ˈtɛndər/ (tenderer, tenderest) 1more tender and most tender are also common kind, gentle, and loving tender words What he needs now is a lot of tender loving care (= sympathetic treatment).
What does it mean when a payment is tendered?
A Services Rendered payment is the payment to an individual for the services they provided. For example, your organization hires a DJ for a group function or a choreographer for a performance.
What does it mean to tender payment?
The payment tender is the method by which a payment was received. Cash, check, wire transfer, PayPal, and credit card are all examples of tenders.
What does tender mean in procurement?
A tender document is created at the beginning stages of the procurement process. It is a request written by buyers detailing the goods, works or services that they require and the criteria on which they will award the contract to a supplier or suppliers.
Why would a company make a tender offer?
A company may make a tender offer to existing shareholders to buy back a quantity of its own stock to regain a larger equity interest in the company and as a way to offer additional return to shareholders.
Is a tender a contract?
In contract law, an approach to market (tender) is regarded as an “Invitation to Deal”. The response is an “Offer”. If you make an offer and that offer is accepted, you have an agreement and a legally enforceable contract. A tender is not in itself a contract but may result in a contract upon acceptance.
What does cash tendered mean on a receipt?
The Tendered Amount is the total dollar amount of the payment made by any combination of cash, check(s), and/or credit/debit card.
What does total tender mean?
Total Tender means the sum of all the extensions of all the bid items in the unit price schedule in the Contract.
What is difference between payment and tender?
Payment implies an acceptance and appropriation of that which is offered by one party to another, whereas tender is the act of offering that which is admitted to be due and owing, but which is not accepted by the creditor. ‘ The tender does not discharge the debt whereas payment does.
What does tender amount mean?
The Tendered Amount is the total dollar amount of the payment made by any combination of cash, check(s), and/or credit/debit card. Note: If the Tendered Amount is greater than the payment amount due… Cash Amount = Tendered Amount – Change Back Amount.
What is difference between contract and tender?
The difference here to be noted is that tender documents are offered to as many contractors as possible to get the lowest quotes for the work specified, while the contract documents are signed only with the contractor with lowest tender or rates.
What’s the difference between a bid and a tender?
In short, they are the same thing. Traditionally a ‘Tender’ is a formal offer (bid) to supply goods, works, or services, but it is now also commonly used to describe the contracts people are bidding for – which can be confusing.
What happens if you dont accept a tender offer?
Rejecting a Tender Offer If you reject the tender offer or miss the deadline, you get nothing. You still have your 1,000 shares of Company ABC and can sell them to other investors in the broader stock market at whatever price happens to be available.
Should you accept tender offers?
Although you can refuse the tender offer, which means that you do not sell your shares, you may stand to make a bigger profit (and in a much quicker time frame) if you accept the deal. If you don’t tender your shares, you’ll likely receive the cash or stock you would have received had you tendered them up-front.