Tender glossary
Common terms used in government tenders and on GeM, explained simply.
- ATC
- Additional Terms and Conditions added by the buyer to a GeM bid.
- BOQ
- Bill of Quantities: the price schedule listing items, units and quantities where you enter your rates.
- Bid validity
- The period for which your offer stays valid after the bid closes.
- Corrigendum
- An official change to a published tender, such as a new date or changed specification.
- CPPP
- Central Public Procurement Portal (eprocure.gov.in), where central government tenders are published.
- CRAC
- Consignee Receipt and Acceptance Certificate, issued on GeM after the delivered goods are accepted; payment becomes due after it.
- DSC
- Digital Signature Certificate. A Class 3 DSC with signing and encryption is needed on most e-tender portals.
- EMD
- Earnest Money Deposit, also called bid security, paid with the bid to show it is serious.
- GeM
- Government e-Marketplace, the online platform for government purchase of common goods and services.
- L1
- The lowest evaluated price among technically qualified bids.
- LD
- Liquidated damages: a pre-agreed deduction for delayed delivery or performance.
- MSE
- Micro and Small Enterprise, eligible for benefits under the Public Procurement Policy for MSEs.
- NIT
- Notice Inviting Tender: the document announcing a tender with its key details.
- OEM
- Original Equipment Manufacturer. Resellers often need an OEM authorisation to bid.
- PBG
- Performance Bank Guarantee: security given by the winning supplier to guarantee contract performance.
- PRC
- Provisional Receipt Certificate, issued on GeM when the consignee receives the goods.
- Pre-bid meeting
- A meeting or query window before the deadline where bidders can seek clarifications.
- QCBS
- Quality and Cost Based Selection: technical and financial scores combined by fixed weights.
- RA
- Reverse Auction: a live online round where qualified sellers reduce their prices.
- Technical bid
- The part of the bid with eligibility and technical documents, opened before prices.
- Udyam
- The official MSME registration, done free on the Udyam Registration portal.