What do you mean by contract ! what is a tender in railway ?

What do you mean by contract ! what is a tender in railway ?

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What do you mean by a contract?
AI Overview
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A contract is a legally binding agreement between two or more parties that creates obligations and is enforceable by law. It is an agreement with defined terms, rights, and responsibilities that all parties are legally required to uphold; if a party fails to fulfill their obligations, they can face legal consequences.

How to get a railway contract?
STEPS TO BECOME A CONTRACTOR OF INDIAN RAILWAY (IREPS):

Creat a Firm (Proprietorship, Partnership or LLP) or a Company (Pvt Ltd Company) Creat all the document required (list of document is given below) Create a Class 3 Org Combo (Signature + Encryption) (Buy Digital Signature) Visit IREPS Portal https://ireps.gov.in/

What are the 5 laws of contract?
Let's delve into these five essential principles of contract law: offer and acceptance, consideration, intention to create legal relations, capacity to contract, and legality of purpose. Understanding these principles is not only important for real-life applications but also crucial for academic purposes.

What are the 7 conditions of a contract?

For a contract to be valid and recognized by the common law, it must include certain elements-- offer, acceptance, consideration, intention to create legal relations, authority and capacity, and certainty. Without these elements, a contract is not legally binding and may not be enforced by the courts.

What is a tender in railway?
AI Overview
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A railway tender is a formal invitation from a railway organization, like Indian Railways, to potential suppliers and contractors to bid for projects and services such as construction, maintenance, and the supply of equipment. This process is used to ensure transparency and find vendors to fulfil the railway's needs through a competitive bidding process, which is often managed online through platforms like the Indian Railway Electronic Procurement System (IREPS).

What is the full meaning of tender?
AI Overview
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"Tender" has multiple meanings, including being soft and easy to cut or chew (like food), having a gentle or affectionate nature, or being young and delicate. As a verb, it means to formally offer something like a resignation or a bid for a project, and as a noun, it can refer to this formal offer or a ship that supplies other vessels.