Floating of tender

Floating a tender refers to the process of inviting bids or proposals from contractors or suppliers for a specific project or service. This typically involves publishing a tender document that outlines the project specifications, requirements, and evaluation criteria. Once the tender is floated, interested parties can submit their bids, which are then reviewed and assessed based on predefined criteria to select the most suitable contractor. This process is common in public procurement and construction projects to ensure transparency and competitiveness.