Tender


Tender
To offer for delivery against futures. The New York Times Financial Glossary

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I. tender tender 2 verb
1. [intransitive] COMMERCE to make a formal offer to do a job or provide goods or services at a particular price:
tender for

• The company said it is unable to tender competitively for contracts unless it has the flexibility of Sunday working.

2. [intransitive] FINANCE to make a formal offer to buy or sell shares at a particular price:
tender for

• The company has agreed to tender for two million of the shares at $4 a share.

• Stockholders must tender for their shares by a specified expiration date.

3. [transitive] formal to offer or show something to someone:

• She will tender a proposal at the meeting.

• The company vice-president had tendered his resignation (= officially said he wanted to leave his job ) .

4. [transitive] formal to give money as payment:

• She tendered a £10 note.

  [m0] II. tender ten‧der 1 [ˈtendə ǁ -ər] noun [countable]
1. COMMERCE an offer to do a job or provide goods or services for a particular price, usually as part of a competition between several companies for the same work:

• Their bid was £150,000 more than the lowest tender.

• Councillors agreed that the contract to build the homes should be put out to (= offered for ) tender.

— tenderer noun [countable] :

• It is preferable for tenders to be opened publicly with the tenderers present.

ˌsealed ˈbid ˌtender COMMERCE
a system in which several companies make tenders for a job without anyone knowing what the other tenders are. The offers are then all opened at the same time and the work given to the company who makes the best offer
2. FINANCE an offer to buy shares, which will be sold to the investor who offers the highest amount:

• Some tender offers stipulate a minimum price for offers.

3. LAW an offer of the exact amount of money in cash (= coins and notes) needed to pay for something — see also legal tender

* * *

   Meaning varies greatly according to context. In a securities market it can mean that all allocations are at the same price. It can also mean the act of offering securities in response to a takeover bid or a tender offer. In the money market it can be an offer to buy Treasury bills. In commodities and futures markets it is the notice of intent to deliver physical goods against a futures contract.

* * *

Ⅰ.
tender UK US /ˈtendər/ noun
[C] COMMERCE a written or formal offer to supply goods or do a job for an agreed price: receive a tender »

Competitive tenders must be received by 1 p.m.

invite tenders (to do/for sth) »

Morocco is inviting tenders to build two wind farms.

submit a tender (to do/for sth) »

The company said it will submit tenders to develop three oil fields in the area.

[C or U] COMMERCE a method of choosing the best company to supply goods or do a job by asking several companies to make offers for the work: win a tender (for/to do sth) »

The company won a tender to start an analogue cellular network.

put sth out to tender »

The drilling rights have been put out to tender.

[C] (also tender offer) FINANCE, STOCK MARKET an occasion when a company sells new shares to those who make offers for them above a particular lowest price. The company calculates the strike price (= final price to be paid) in relation to the total demand and the prices offered: »

All tenders above the strike price will be accepted.

»

Shares in the insurance group will be sold through tenders.

»

They made a cash tender of $15.50 per share.

»

The share tender was over-subscribed.

»

If you buy shares in the retail tender offer, they will be free of transfer charges for up to 42 days after allocation.

See also LEGAL TENDER(Cf. ↑legal tender), SEALED-BID TENDER(Cf. ↑sealed-bid tender), SELF-TENDER(Cf. ↑self-tender)
Ⅱ.
tender UK US /ˈtendər/ verb
[I or T] COMMERCE to make a formal offer to supply goods or do a job for an agreed price: »

It will be better still if competitors in poor countries can tender successfully.

tender to do sth »

The company is tendering to clean the Millennium Dome.

tender for sth »

Next month companies will be invited to tender for a new international telecommunications system.

[I or T] FINANCE, STOCK MARKET to make a formal offer to buy or sell shares at a stated price: »

Unit holders are under no obligation to tender their shares.

»

About 7 million of their shares had been tendered under the offer.

tender sth to sb/sth »

The company tendered its shares to BP for 500p cash.

tender into sth »

They gave security holders an additional opportunity to tender into the offer.

[T] FORMAL to give or offer something: »

You will have no option but to tender your resignation.

»

He tendered a delivery note for signature.

»

She tendered a plea of no contest.

tender sth as sth »

A check was tendered as payment.


Financial and business terms. 2012.

Synonyms:

Look at other dictionaries:

  • tender — ten·der 1 n 1 a: an act or instance of tendering b: an unconditional offer of payment or performance (as in discharge of an obligation) that is coupled with a manifestation of willingness and ability to follow through (as by producing a check) c …   Law dictionary

  • Tender — (tender, engine tender; allège, tender; tender), unmittelbar mit der Lokomotive gekuppeltes Fahrzeug zur Aufnahme der für den Lokomotivbetrieb erforderlichen Mengen von Brennstoff und Speisewasser; außerdem werden auf dem T. noch verschiedene… …   Enzyklopädie des Eisenbahnwesens

  • Tender — Ten der, a. [Compar. {Tenderer}; superl. {Tenderest}.] [F. tendre, L. tener; probably akin to tenuis thin. See {Thin}.] 1. Easily impressed, broken, bruised, or injured; not firm or hard; delicate; as, tender plants; tender flesh; tender fruit.… …   The Collaborative International Dictionary of English

  • tender — tender1 [ten′dər] adj. [ME tendre < OFr < L tener, soft, delicate, tender, prob. altered (infl. by tenuis,THIN) < Sabine terenum, soft, akin to Gr terēn, tender < IE * ter , tender, weak, orig., rubbed, worn down < base * ter , to… …   English World dictionary

  • Tender — may mean:FinanceA process by which one can seek prices and terms for a particular project (such as a construction job) to be carried out under a contract. The sealed offers themselves, including company information, a project outline, and a price …   Wikipedia

  • tender — [ tɑ̃dɛr ] n. m. • 1837; mot angl. « serviteur », de to tend « servir (qqn) » ♦ Wagon qui suit une locomotive à vapeur et contient le combustible et l eau nécessaires. « debout sur la plaque de tôle qui reliait la machine au tender » (Zola). ●… …   Encyclopédie Universelle

  • tender — TÉNDER, tendere, s.n. Vehicul de cale ferată, cuplat direct cu o locomotivă cu abur sau făcând corp comun cu aceasta, care serveşte la depozitarea şi la transportul combustibilului şi apei necesare funcţionării locomotivei. – Din fr. tender.… …   Dicționar Român

  • Tender — Ten der, n. 1. (Law) An offer, either of money to pay a debt, or of service to be performed, in order to save a penalty or forfeiture, which would be incurred by nonpayment or nonperformance; as, the tender of rent due, or of the amount of a note …   The Collaborative International Dictionary of English

  • tender# — tender adj Tender, compassionate, sympathetic, warm, warmhearted, responsive are comparable when they mean expressing or expressive of feeling that reveals affectionate interest in another especially in his joys, sorrows, or welfare. Tender… …   New Dictionary of Synonyms

  • tender — Ⅰ. tender [1] ► ADJECTIVE (tenderer, tenderest) 1) gentle and sympathetic. 2) (of food) easy to cut or chew. 3) (of a part of the body) sensitive. 4) young and vulnerable. 5) requi …   English terms dictionary

  • Tender — Sm Kohlewagen bei der Lokomotive per. Wortschatz arch. (19. Jh.) Entlehnung. Entlehnt aus ne. tender gleicher Bedeutung. Dieses ist übertragen aus Begleitboot und gekürzt aus ne. attender Begleiter (zu ne. attend beachten, aufwarten, begleiten ) …   Etymologisches Wörterbuch der deutschen sprache


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