How to bid for business

Author: | Published: 27 Mar 2018

Balancing participation and risk management is key to successfully navigate the complexities of tenders

1 Minute read
Public tenders are a common procurement mechanism and potentially very lucrative for companies with global operations.

However, given the significant corruption risks that can arise – and the spate of enforcement actions that have involved the same –companies are advised to implement robust internal processes to ensure that their participation in tenders does not fun afoul of relevant laws. The authors outline the risks that can arise in the tender context and offer several best practices for risk management.

Governments around the world often conduct business through tenders – a procurement vehicle similar to a request for proposal (RFP), whereby bidders submit competing offers to supply goods or services in accordance with announced specifications. Indeed, many governments require agencies to issue public tenders if the value of the procurement exceeds a particular threshold.

Estimates suggest...