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BIDDING-TENDER-CONTRACT TENDERING PROCEDURE – AWARD OF TENDERS ESSENTIAL ELEMENTS OF CONTRACTS Types of contracts MEASUREMENT BOOK Security deposit CONTRACT DOCUMENT Earnest money deposit (EMD) Qualification of contractors IMPORTANT CLAUSES IN CONSTRUCTION CONTRACTS
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Contracts and Tenders When two or more persons have common intention communicated to each other to create same obligation between them there is said to be an agreement. An agreement which is enforceable by law is a Contract. A Tenders is called upon for executing certain specified work, or supplying specified materials; subjected to certain terms and conditions like rates, time limit, etc. It is an offer in written form: Legally speaking, it is an offer to receive an offer for the work, within the specified financial limits. Check for more presentations at - www.archistudent.net
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