Explanation

• There are four main procedures followed for the best competitive bidding.
• These ensure fairness, transparency, and cost-effectiveness in procurement and contract awarding.

The Four Procedures:

1. Open Tendering – Anyone can bid; most competitive.
2. Selective Tendering – Only pre-qualified bidders are invited.
3. Negotiated Tendering – Direct negotiation with a chosen supplier.
4. Request for Quotations (RFQ) – Used for smaller contracts with multiple quotes.