Things to Watch out for When Looking for Tenders to bid on in Europe and the UK

Governments and large organisations generally put out tenders, no matter the category or type, to enable businesses to bid on projects. Normally, you’d think that a tender is a good thing to bid on, but it’s important to do your due diligence first and look to see what you are getting yourself into. In rare cases, you could be bidding on a project that isn’t funded or where the process is corrupt. 

Of course, tools like Tracker have ways to reduce and eliminate risks as much as possible. However, knowing what tenders you should watch out for can be difficult. Here are some of the things that you should be vigilant about when looking for tenders to bid on in Europe and the UK: 

1. Check if it’s a genuine tender. A good way of doing this is by checking with the relevant government body that the tender exists and is authentic.
2. Look out for tenders that are not well-defined or structured. If the specifications of the project aren’t clearly written, then it’s likely that you won’t be able to bid on it accurately. 
3. Keep an eye out for complex bureaucracy involved in submitting a bid or if there are any unusual requirements, such as confidentiality agreements and non-disclosure documents which may apply before being accepted as a bidder. 
4. Keep aware of artificial deadlines set for tender submissions and look out for multiple extensions, as this could signify corruption or bidding manipulation by other parties. 
5. Check to see who else is bidding on the tender. If only one bidder exists, it is wise to investigate further, as there could be a problem with the tender or bidding process. 
6. Do research on the project and investigate any potential risks or red flags that you come across. It’s important to know what’s involved in the project so you can accurately calculate costs, timelines and other factors in your bid. 
7. Make sure you understand the terms and conditions of the tender: Before submitting a bid, make sure that you thoroughly read and understand all requirements, rules and regulations listed in the tender document. 

Conclusion

You can ensure a better chance of success with your bids by conducting thorough research and due diligence on tenders before bidding. Utilising tools such as Tracker is also highly beneficial for staying up to date on new tenders available and assessing their potential risks so that you can make more informed decisions regarding bid submissions. 

Before submitting your bid, watch out for any signs of corruption or red flags. This can be done by researching the project, understanding the terms and conditions involved, checking who else is bidding on the tender and ensuring that the process complies with all relevant laws. Doing this will ensure that you’re bidding on genuine, well-defined and structured tenders so you can succeed in your bid submission.