What is tender ?

Tenders are to invite bids for a project, or it is necessary to accept the proposal formally as the acquisition bid tenders generally give information to the process under which the government and financial institutions would invite tenders for big projects. Which should be presented within a limited time frame. It also refers to the word process if someone wants to know what is the current status of the transaction or liability in the case of financial status in which the shareholders deposit their shares or securities in response to an acquisition proposal