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 selected whereas their is no such legal contract in case of quotation.
8.period of Execution=Quotation are invited for a job or purchase to be executed all at one or in a small period of time but the tender for purchase spread over a comparatively longer period of time.
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 selected whereas their is no such legal contract in case of quotation.
8.period of Execution=Quotation are invited for a job or purchase to be executed all at one or in a small period of time but the tender for purchase spread over a comparatively longer period of time.
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