Tender

Marketing dictionary

Tender

1. Article or token (such as coins or banknotes) that serve as means of payment or settling a debt. See also legal tender. 2. Unconditional offer of money (to satisfy a debt) or performance (to satisfy an obligation). A tender may save the tendering party from penalty for nonpayment or nonperformance, and may not be refused without just cause by the party to whom it is made. See also tender of payment. 3. Sealed bid or offer document submitted in response to a request for tenders and containing detailed information on requirements and terms associated with a potential contract. See also tender offer. 4. Small boat used in supplying a ship, or to ferry people to and from shore.

Back to previous
Rate this term

Search

Browse A-Z

Select a letter to find terms listed alphabetically.