An invitation to tender (ITT) is a formal invitation to suppliers or vendors to submit a bid for the provision of goods, services, or works. An ITT typically outlines the requirements and specifications of the project, the evaluation criteria, and the submission process for interested parties.
Organizations issue an ITT when they want to procure goods, services or works through a competitive bidding process. The ITT process ensures that the organization can evaluate bids from multiple suppliers and select the best offer based on price, quality, and other factors.
The ITT typically includes information on the scope of work, technical specifications, delivery requirements, and any other relevant details. Interested parties must submit their proposals by a specified deadline, and the organization evaluates the bids based on the criteria outlined in the ITT. The organization may then negotiate with one or more suppliers before selecting the successful bidder and awarding the contract.
An ITT is a common tool used in public procurement and is often required by law or regulation. However, it may also be used by private sector organizations to ensure that they receive competitive bids and select the best supplier for their needs.