This topic will give you a whole lot of tips and the law about tenders.
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The tender process is quite often a very effective way for buyers to maximize the chances of getting whatever they want at the best possible price. However, sellers may also benefit because buyers who tender may put in a price far greater than they may have had to pay through the auction process.
But the tender process can go horribly wrong, and in order to prevent falling into real difficulties you should understand fully the tender process.
Originally, when an advertisement or a request for tender was advertised it was believed that the vendor or was merely asking for "invitations to treat” from people who may wish to buy. The request for tender was not regarded as an actual offer to sell, which could be turned into a binding contract by an acceptance. That is still the case but other difficulties can occur.
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