Procurement process is one of the most important aspects of any business. It is responsible for the acquisition, storage and distribution of Goods and Services that are required for the company to function.

Public Procurement refers to the purchase of goods or services by Government Agencies like Ministries, Municipal Corporations, Government owned Establishments, Federal Agencies, Defence Agencies, Banks, Counties, etc. In recent years, there has been an increased focus on the need for transparency in public procurement processes, which has led many governments around the world to adopt eprocurement systems that are designed to offer more transparency and accountability in the bidding process.

Procurement notices are published by the Buyers on their respective websites and also in Newspapers.

Tenders (also known as Bids and RFP) is a formal procedure that connects suppliers with buyers. It is a business process where the Buyer requests quotations from Suppliers to purchase goods or services.

Tender Notice or Bid Notice is a type of Procurement Notice, which is also referred as Notice Inviting Tenders (NIT), Invitation to Tender (ITT), Invitation to Bid (ITB), Request For Proposal (RFP), Request For Quotation (RFQ), EOI (Expression of Interest), Request for Information (RFI), Prequalification Notice, Procurement Notice, Solicitations etc. There are few other Procurement Notices like General Procurement Notice (GPN), Prior Information Notice and Procurement Forecast.

Bids can be made in different ways, such as Competitive bidding, Sealed bids, and Negotiated bids. The competitive bidding is the process by which the bidders submit their bid for a given product and then all bidders are notified of the winning bidder. This ensures that there is fair competition between all bidders in order to get the best price for any given product.