RFI, RFP, RFQ & tender documents · Working

Tender security

Also called: bid security

ELI5

Financial or other security supporting a tenderer's obligations.

Used in conversation

“Can we state who receives the right created by tender security, and when it applies?”

Pitch context

You will see “Tender security” in operating plans, procurement packs, supplier reviews and supply-chain reports when the discussion reaches rfi, rfp, rfq & tender documents.

Why it matters: In rfi, rfp, rfq & tender documents, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

Sources & evidence · 3

Direct term-level sources and supporting source families.