The Tender Offer
This form is normally found right in front of the tender document and it serves to affirm your authority to make the offer on behalf of yourself, the company, partnership, close corporation or a cooperative. This form also affirms that you will supply the goods or services as requested and as per your offer made in the tender document.
All tender documents must stipulate the duration of the validity of your offer. In most cases it will either carry a 90 or a 120 days` validity period. This means that your total offer will remain fixed for the period stipulated in the tender document and you are not at liberty to approach the state to make changes to your offer. On the other hand the state has a right to approach you within this fixed period to extend the term or duration of validity of the offer, especially in instances where the tender will not be awarded within the original validity period
Bear in mind that your offer is an irrevocable proposition made to the state in response to their call for tender. You are not allowed to unilaterally withdraw this offer or do so at your own will. Once you`ve submitted a tender, its destiny is out of your hands and you may only withdraw your Offer during the validity period where the state requests you to do so or where they`ve awarded the contract to you, they may cancel it without you having any rights to recourse in the instance where you`ve failed to complete the contract. However, you may be liable for expenses incurred by the state for such withdrawal or cancellation.
You must also be very cautious when you find yourself in a situation where the state cancelled a contract awarded to you and you`ve failed to complete it. In such an instance, it may be forced to re-advertise the tender and should they award it to someone at a lower price than your original offer, it retains the right to sue you for the difference and other related damages. You could also lose all guarantees and deposits which you may have furnished at the time of submitting your original tender.
Did you know that by signing The Tender Offer Form, you are assenting to be liable to full responsibility for executing the contract should it be awarded to you and undertake to comply with any court ruling against you for damages.