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TeachMeFinance.com - explain Tender Tender The term 'Tender ' as it applies to the area of agriculture can be defined as ' As a verb, tender announces the intention of delivering a notice or an actual commodity; i.e., XYZ Grain Growers, Inc., tenders six cars to North Pacific at the time of shipment for application on an open sales contract. As a noun, tender normally denotes a notice of an intent to buy. The tender usually spells out in detail quantities to be purchased, desired quality, time of shipment, country of origin, and all inspection, weighing, and payment terms. Overseas buyers usually issue tenders to ensure the maximum competition for a given piece of business. Also, the action of receiving offers, determining the best one, deciding whether, and how much, to buy, and announcing the awards of contracts. Ordinarily, a buyer reserves the right to reject any or all of the offers submitted'. Previous 5 Terms: Temporary Emergency Food Assistance Program (TEFAP) Temporary irrigation service land Temporary structure tempore TEMPS Next 5 Terms: tenderometer Tennessee Valley Authority (TVA) tenrec tensimeter Tensiometer About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.