Applying for IOCL or any State government tender Look at the terms every bidder must know

Monthly, over 75,000 government tenders are issued in India, which includes central and state government tenders published on Karnataka eproc and other state government portals. Government tenders account for nearly 10% of the country’s GDP. The majority of government tenders in India are issued by Indian Railways, MES, CPWD, State PWDs, and PSUs. You can apply for tenders of NTPC, HPCL, BPCL, IOCL e tender and others through their eprocurement portal. The value of these government tenders ranges from as low as Rs. 2 Lakhs to thousands of crores.

So, if you are an SME and interested in finding more business opportunities, you can explore and find the government tenders on Karnataka eproc or other state government procurement portals that meet your needs. However, if you are new to the world of government eProcurement and eTenders, you may want a website that is easy to navigate, gives you a detailed description of tenders, notifies you for upcoming tenders and helps you apply for the relevant tenders at ease. Bidassist is one such website that ticks all these boxes. They collate iocl e tender any other state government and PSUs, etc. tenders across different categories from credible sources. One can search for tenders by state, authority, closing and opening date, country, etc. 

Before you apply for IOCL e tender or any tender for that matter, you may be wondering what those tender terminology and bidding terms mean. Considering the number of tenders published by the government, it is important to get yourself acquainted with these terms. The following section will go over some of the most commonly used tender terms used not just on Karnataka eproc but on every other eProcurement portal. 

Government eProcurement in India is handled through the Central Public Procurement Portal (CPPP). Every year, government departments, PSUs, and ministries issue numerous tenders, inviting qualified suppliers to bid. To encourage greater participation, the process is carried out online, with all relevant information made public.

Central Public Procurement Portal (CPPP):

The CPPP eProcurement system serves as a central location for all government ministries and departments to post their procurement requirements. The platform contains all eProcurement tenders that have been published. Anyone can use the platform to view tender notices. To apply for an IOCL e tender or any tender, however, a person must first register and log in to the CPPP. The platform also disseminates tender status, corrigendum, and tender results (bid awards).

Government eMarketplace (GeM):

Recently, the government also launched the Government eMarketplace (GeM) portal, which serves as a one-stop shop for government departments to purchase common goods and services. Sellers can list their goods and services, gain access to government agencies, and even sell on GeM. Other functions, such as e-bidding and reverse e-auction, are also made possible by the portal.

Tender/eTender:

A tender is a request for bids on a project. Government departments (and even private sector companies) have varying needs for goods and services and will issue tenders inviting qualified suppliers/vendors to submit a proposal for the project. The process usually concludes with a review of the various submissions and awarding of the contract to the best bidder.

E-Tendering:

Also known as electronic tendering, it is a process that takes place online. That is, the entire tendering process is carried out online, from IOCL e tender or any tender announcement to bid submission, evaluation, and award. It is a paperless process that keeps eTendering fair, transparent, and agile.

e-Publishing:

The ePublishing system is a portal that allows government agencies to electronically publish tender requests, contract award announcements, and corrigendum online.

Request for Information (RFI):

It is one of the first stages of the tendering process in which the procurement team requests information from suppliers on their products, goods, and services. The RFI document may include a summary of the requirements, but the goal is to obtain information only. This is a request for bids from suppliers for the requested goods and services. RFT documents are specific and provide complete information on the tender requirements.

The CPPP allows you to view and download RFTs or tender requirements documents in PDF format.

Request for Quotation (RFQ):

An RFQ is a request for a price or quote for goods and services. It typically includes information such as product quantity, cost, additional expenses, taxes, and so on. In most cases, a BOQ or Bill of Quantity with cost details must be completed and submitted along with the tender application documents.

Request for Proposal (RFP):

RFPs are issued to qualified suppliers in order for them to propose solutions to a specific project idea or problem. There is a distinction between RFI, RFT, RFQ, and RFP, and as a potential bidder, you should understand the distinction to determine whether or not the opportunity is relevant to your business.

Tendering fees:

iocl e tender Karnataka eproc Buyers frequently include a tender fee when a tender is announced. This fee serves as a tender processing fee charged by the buyer for carrying out the various processes involved in tender evaluation. The tender notice specifies the tender fee amount, mode of payment, and how to submit the payment receipt. Tender fees are generally non-refundable unless the tender is cancelled or otherwise stated.

EMD

is similar to bid security money, which is frequently charged by the buyer organisation to ensure that only serious bidders who are committed to and qualified for the project bid on it. iocl e tender Karnataka eproc Those who do not win the contract are usually reimbursed. When participating in government tendering, MSMEs in general are exempt from EMD (relevant MSME certification has to be provided).

Quotation:

Simply put, a quotation is the final price a bidder quotes in the bid proposal for completing the project. iocl e tender Karnataka eproc Tenders have a standard way of quoting prices that bidders must follow. The quotation is the actual cost of the project requested by the bidder, not an estimate. As a result, it cannot be changed at a later time.

Certificate of Digital Signature (DSC):

A DSC is an electronic key that verifies and validates a person’s identity. E-Tendering requires a Class III DSC. It is issued by Certifying Authorities (CAs) and can be used for GST, IT filing, PF, and other purposes. It can be used as a digital signature, eliminating the need for manual signatures. To begin bidding as a bidder, you must first register your DSC.

We attempted to highlight the main tender terminology, terms, and concepts used in Indian tenders in the preceding section. Though other terms are frequently used, the ones discussed above will help you get started with eTendering. With thousands of Tenders getting published each month, business owners may find it difficult to identify and bid on the right tenders. Bidassist can ease the process of applying for tenders published by the Karnataka government. If you want to inquire about any Karnataka eproc, Bidassist gives a one-stop solution. There is no need to enter all the details on the website of as BidAssist helps you find the specific Karnataka etender you’re looking for.