3 Aug 2018

Tender Period

Finance feed by:

CA Akash Agarwal
B.com (Hons),CA
CA in Practice    •    100% (2 votes)   •    12 Year 1 Month  experience

Tender period refers to the time period before the expiry of the contract. Tender period is generally a few days. Tender period gives members of the contract the flexibility to make decisions till the time the contract expires.

The parties to the contract have the liberty to change the terms of the contract in the tender period. Once the tender period is over, they have no other choice but to honour the contract as specified in the contract.

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