Questions Bank - Accounts Department ( Tenders & Contracts )

Questions Bank - Accounts Department ( Tenders & Contracts )

• Please indicate type of tenders.

•  What are basic ingredients of a valid contract? 

•  What is the purpose of earnest money? 

•  What is purpose of security deposit? 

•  What precautions should be taken by the members of tender opening Committee? 

•  Why is the vetting of comparative chart is needed? 

•  What is role of briefing note? 

•  What is role of tender committee? 

•  What is a dissenting note? 

•  Why contract agreement needs legal and financial vetting? 

•  What is late tender? 

•  What is delayed tender?