Financing a tender.

Shiesty

Shiesty

Village Elder
#1
#1
Morning talkers. Quick question. For those who do/ service tenders how do you raise finance outside borrowing from your bank and family?

I am in a situation where I have these orders I hustled for, two are now over two weeks due.
I can't get a loan from the bank since I already took a secured loan to service a tender last month and I am yet to be paid.

My bank (co-op) for some flimsy reason doesn't do LPO financing.

So how else can you raise money to the tune of 1.2m in a short period?
 
Mankind

Mankind

Village Elder
#2
#2
Boss Two weeks? Ngori.
If I can't financially service a tender I try finding someone in the same field who has the muscles. Sign an agreement and get him/her to finance; ofcourse at a profit.
Your margin will be lower but it's better than risking being blacklisted by the client for late deliveries.
 
jambazim

jambazim

Village Elder
#4
#4
Shiesty said:
Morning talkers. Quick question. For those who do/ service tenders how do you raise finance outside borrowing from your bank and family?

I am in a situation where I have these orders I hustled for, two are now over two weeks due.
I can't get a loan from the bank since I already took a secured loan to service a tender last month and I am yet to be paid.

My bank (co-op) for some flimsy reason doesn't do LPO financing.

So how else can you raise money to the tune of 1.2m in a short period?
Click to expand...
First question, who is the Procuring Entity (PE)? Is it gov. or private sector?

What i would recommend is you write a letter to the (PE) requesting for partial payment of work done. If you read the tender document well under special conditions of the contract on payment terms; The PE may negotiate mutually acceptable terms of payment with the tenderer.
 
Shaffie_waru

Shaffie_waru

Village Elder
#5
#5
Please talkers who can educate me more on tenders am a student bt trying to master this art early..i need someone who can be directing me and i can also help him where possible
 
jambazim

jambazim

Village Elder
#6
#6
Shaffie_waru said:
Please talkers who can educate me more on tenders am a student bt trying to master this art early..i need someone who can be directing me and i can also help him where possible
Click to expand...
Google AGPO. Thats your best chance. Otherwise, most tenders zinawenyewe.

Most important thing, have each and every mandatory document ready so that you are not eliminated on a technicality.
 
Shaffie_waru

Shaffie_waru

Village Elder
#10
#10
jambazim said:
I will neither deny no accept that i am in that area. I am however in the business of making money.. ;);)
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Money be important than anything even if you get it from selling fire in hell "I sell ice in the winter, I sell fire in hell,I am a hustler, I'll sell water to a well...". - Jayz
naeza kuja inbox tubonge mbili tatu mkubwa
 
Shiesty

Shiesty

Village Elder
#12
#12
jambazim said:
First question, who is the Procuring Entity (PE)? Is it gov. or private sector?

What i would recommend is you write a letter to the (PE) requesting for partial payment of work done. If you read the tender document well under special conditions of the contract on payment terms; The PE may negotiate mutually acceptable terms of paymen
Click to expand...
Procuring entity is govt.
Partial payment is due when you have commenced and done part of the job.

But negotiations may be a good idea here to buy some time
 
jambazim

jambazim

Village Elder
#14
#14
Shiesty said:
Procuring entity is govt.
Partial payment is due when you have commenced and done part of the job.

But negotiations may be a good idea here to buy some time
Click to expand...
Did you provide a performance security when signing the contract? Also check the delivery period that you quoted least you are not penalized for delay. Hence more loss.
 
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