tendering
noun[U]
uk/ˈtendərɪŋ/usCOMMERCE
theprocessofchoosingthebestorcheapestcompanytosupplygoodsor do ajobbyaskingseveralcompaniesto makeoffersforsupplyingthegoodsor doing thework:
Thewholeprocessis done bycompetitivetendering.
Thelaundrycontractwasawardedto thecompanythat hadofferedthelowestpricein thetenderingprocess.
See also
collusive tendering