Lot
A separate part of a tender that can be bid on and awarded on its own, such as “Lot 1: website” and “Lot 2: hosting”. Lots let small firms bid for the part they are good at.
Related terms
- Framework agreement
- An umbrella agreement with a set of approved suppliers, under which public buyers later award contracts without a full tender each time. Getting on a framework is often the only way into recurring IT work.
- Open procedure
- A tender anyone may bid on, with no shortlist stage. Every compliant bid is evaluated.