Learning Everything About Technical and Commercial Bids!
by Arina Smith Services 14 October 2020
A bid is an offer that sets the price tag of a product or a service to determine its cost or value. It consists of the specifications or details of a product or service that has to be purchased. The company offering the bid is known as the vendor. During the bidding process, the vendor is initially selected to subcontract a project or to purchase products or services.
When creating a bid, whether it is a technical bid or commercial bid, you must clearly understand your business, its goals, and capabilities along with the products and services that you are offering. You must also consider the objectives of a bid so that your business may qualify for it. The parties who are directly or indirectly related to your business must also be addressed.
This article highlights everything that you need to know about technical and commercial bids. We will discuss the main difference between the two along with their importance and the bidding process. For reliable technical and commercial bids translation services, you must book the services of a trustable translation agency. Want to know where you can get such services? Read this article until the end and discover all these important aspects of the bids in detail.
What is the main difference between technical and commercial bids?
A technical bid is an important bid that is usually offered by the supplier of the product or a solution provider. As it is a technical bid, it consists of all the technical specifications of a product. For example, if we talk about the technical bid of a car submitted by a car manufacturer, it will consist of the technical specifications of a car. In the case of a government tender in which the employee management software is provided, the technical bid will contain information such as the company’s incorporation certificate, financial statements, or other relevant documents. This type of bid is usually handled by the engineering teams.
On the other hand, a commercial bid is entirely different from a technical bid. Rather than including technical specifications, it deals with the commercial aspects that usually apply to the product or service delivery. These may include payment terms and conditions, cost, price, insurance, bond, currency, delivery aspects as well as warranty. As this type of bid deals with the commercial details, it is usually analyzed by the purchasing department.
What is the importance of technical and commercial bids?
Most tenders request the bidders to submit their bids in the form of technical and commercial bids. Technical bids play an important role in the business as they may help the businesses to secure a new client or a major project. It is important to go into detail about the technical requirements of the task to ensure the bidder can give an appropriate response and show they can meet the necessary technical specifications. In short, technical bids are important to ensure the continued success of the business.
At first, the technical part of the bid is evaluated by the consulting engineers and after their approval for acceptance of the technicalities, the commercial part of the bid is opened.
Kings of Translation offers the best services of technical and commercial bids translation
Looking for accurate and reliable bid translation services that may help you to win major international projects? If the answer is yes, you can’t go past Kings of Translation, a leading translation agency in the United Kingdom, ready to assist you with its technical and commercial bid translation services throughout the UK. Our fully-qualified and professional translators have years of experience in the translation industry and understand the requirements of the client. With a focus on quality and accuracy and with proficient knowledge of the target language, our experts can translate bids in any language without changing the original context. They will not only check your documents but will review them as well, providing quality results at every level.
Fast delivery, affordable prices, high-quality translations, and excellent customer service have set us apart from our competitors. For urgent document translation or for a free consultation or translation advice, you may contact us by phone or email. Ring to us at 075 1798 6633 or send an email to us at email@example.com.