Quotation and tender
Difference between tender and quotation 1.Mode of correspondence= quotation are written in letter formate whereas a tender are published as notice format on newspaper. 2.selection of Receiver= In case quotation depend upon buyer whereas in case of tender buyer can not depend upon the tender. 3.privacy= Quotations is the type of private correspondence between buyer and sellers whereas tender are widly advertised in newspaper. 4.Transparency= Selecting a seller from quotation is totally on the good will of buyer whereas tender arw very transparent correspondence as these are open quickly before all the prospecting tender. 5.Earnest money= Earnest money is a type of non refundable in case of selection/rejection whereas their no such amount in case of quotation. 6.Scale of purchase= when the scale of purchase is of small amounts quotation can work while in case of large scale purchase tender will work. 7.legal contract= The seller has to sign a legal contract after being selec...