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Calls for bids or calls for tenders or invitations to tender (ITT) (often called tenders for short) are special procedures to generate competing offers from different bidders looking to obtain an award of business activity in works, supply, or service contracts. They are usually preceded by a prequalification questionnaire (PQQ). There are 3 main procedures when tendering for European contracts that are above a certain level cost Each of them work in different ways. [1] Registered contractors are usually required to furnish a bond for a stipulated sum as security or earnest money deposit to be adjusted against work done.
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