Invitation to Tender

Invitation to Tender (ITT) is a common procurement method in international trade. It refers to the buyer (the tendering party) issuing a public notice or invitation that specifies procurement requirements, technical specifications, contract terms, etc., inviting sellers (bidders) to submit quotations and proposals within a specified period, and ultimately selecting the best supplier. Use cases include government projects, large-scale infrastructure, and complete equipment procurement, usually requiring openness, fairness, and competition. Precautions: Tender documents must be clear and complete to avoid ambiguity; bids must strictly adhere to deadlines; attention must be paid to different countries' tendering regulations and practices, such as procurement guidelines of international organizations like the World Bank and AIIB. Difference from Tender: Invitation to Tender is the buyer's action, while Tender is the seller's response; compared with Inquiry, Invitation to Tender is more formal and competitive, typically involving complex evaluation and contract award procedures. Foreign trade practitioners should be familiar with the tendering process, prepare detailed bid documents, and pay attention to risks such as exchange rates and payment terms.