Business

How To Participate In The Govt Tenders?

Do you have a growing company that wants to expand and meet government requirements? Are you missing out on tender opportunities? Are you following the correct procedures to participate in tenders? Continue reading to learn the basics of participating in government tenders and sourcing.

Tenders are requests for suppliers to submit bids for a project, or part of a proposed project. This could include providing specific products or services.

Governments usually follow a tendering process as it creates a level playing field for all registered dealers/manufacturers to become suppliers for a business requirement. This ensures the buyer receives the best price and quality.

What Should You Know About Tenders?

India’s Governments (Central and State) purchase more than Rs18-19 Lakh Crore worth of goods annually. Since August 2016, the Government of India has procured Rs40,000 Crore through its new electronic marketplace platform.

This can be a significant segment of your business, as it allows you to shift from manual tendering towards digital tendering (extenders).

Your business can be greatly enhanced and impacted by winning government tenders. This can increase your company’s capacity and income, putting you at a higher earning level.

Participating in government tenders will help your business be more organized and focused on winning new projects. You can also compare yourself with other manufacturers and vendors, learn the market conditions and participate in tender discussions and negotiations.

Are You Looking for Tenders Fast?

Many business owners overlook the regular requests for tenders. Sometimes this is due to a lack of knowledge about where to find the information.

The Government made it mandatory to publish an electronic tender for purchases exceeding Rs 2 Lakh as of April 1, 2017. The threshold was Rs5 Lakh in the past, and Rs10 Lakh before that. Small businesses will find it easier to take part in tenders with this new limit.

There is a central e-procurement portal at https://eprocure.gov.in/eprocure/app which contains information on the available tenders. These tenders can also be posted by state governments.

Examples of these are https://wbtenders.gov.in/ for West Bengal and https://eproc.rajasthan.gov.in/ for Rajasthan.

These websites list all information about upcoming tenders, qualifications criteria, and other requirements. You will soon find tenders along with other business opportunities from MSMEs and corporates easily available on the recently launched MSME portal from the Tata group.

What should you keep in mind?

  • Include the search for tenders in your daily life. Don’t miss the chance to take part in even the smallest of opportunities.
  • Make sure you read the tender terms and conditions. An application with a small error can result in an automatic rejection.
  • To demonstrate your abilities, attach documents relating to your work experience and previous work. This will increase your technical competence.
  • Bid for it, even if it’s a low-cost offer. This will increase your credibility. Gradually you’ll be able to build enough credentials for larger contracts.

The Most Common Terms You Need to Know

There are many terms that are commonly used in tendering. Here are some of the most commonly used terms.

  • RFP – This includes the details of the tender as published online and in print. It includes all details of the tender request.
  • L1 – Lowest Bidder – After the bids have been opened, prices are ranked L1 through L3 depending on how many bids there are. L1 is the lowest bidder and L2 is the second-lowest.
  • EMD – Earnest Money Deposit – This deposit must be submitted as caution cash. This is a fixed amount of money that will usually be refunded if the tender is not won.
  • Mobilization Advance – This advance fund is available before you begin manufacturing the product.
  • Consortium – A consortium can be formed by more than one company to submit a bid for a tender. You can join a consortium with another business if your company doesn’t meet the pre-qualification criteria.

How do you deal with tenders?

  1. You can search for tenders on various state government websites and find the ones that interest you.
  2. Register for a login ID to submit your KYC.
  3. Take a look at the key points and confirm your eligibility.
  4. Organize all documents in PDF format, except where noted.
  5. Organize EMD, and scan copies of the NEFT information.
  6. Please fill in the tender as precisely as possible.
  7. You may receive follow-up questions from the relevant government department. These may have a time limit so make sure you keep track of them.
  8. You should check the site regularly for information about the opening date and the time of the tender.

Also Read:

near, is one such portal where you can register your business for free, and find the latest Tenders & Quotations as buyers and sellers.

 

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