What is the difference between tender and procurement?

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#1

Tender & Procurement, both are different in meaning & execution.

In simple terms,

Tendering is a process of, raised a formal written offer by an organization in order to acquire a contract from Government institutions or other organization.

Whereas, Procurement is an action to obtain the contract in order to meet the requirements, arrange the resources & negotiate for particular services & complete the work under given time-period.

Once a Vendor applied for a contract to acquire than the procurement process starts, which is ended by the particular institutions (who invites) only when the requirements fulfilled.

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