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For this reason, it is important that
organisations involved in tendering have an understanding
of the necessary steps they need to be taking in assessing
tender opportunities and preparing their tender documents.
Miscalculations in tenders or contract evaluations can
have a lasting impact - often for many years during
the life of a contract.
Directors must ensure that adequate processes and systems
are in place to ensure that a balance is achieved between
winning new business and capitalising on new opportunities
and not inadvertently committing an organisation to
unduly onerous provisions or accepting an inordinately
high level of risk.
Some of the key steps that organisations must follow
when involved in a tendering process are highlighted.
The fundamentals of the tendering process are examined
as well as a number of different and significant contract
clauses and issues that recur in tendering documentation.
For example, liquidated damages, assignment and change
of control clauses, force majeure, indemnities and dispute
resolution issues.
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