What is multi stage tender?

A multi-stage tender is a procurement process that involves several phases to evaluate and select suppliers or contractors for a project. In this approach, initial submissions may focus on qualifications and technical proposals, followed by subsequent stages that may include financial bids and negotiations. This method allows organizations to thoroughly assess potential vendors based on various criteria, ensuring that the selected bidder meets both technical and financial requirements. Multi-stage tenders are often used for complex projects where a detailed evaluation is necessary to mitigate risks.