The publication of the Notice Inviting Tender (NIT) is a step through which potential developers are informed officially about the project. In publishing the NIT, the public entity, apart from following the internal rules in this regard, must also follow the mode and manner set out in the procurement laws applicable to their respective jurisdiction. Normally, any NIT of the tender document needs to be published in the State or district tender bulletin as well as the Indian Trade Journal.
NIT would need to provide the following key information related to the tender process:
1. minimum time for submission of bids;
2. date of sale of the tender document;
3. last date and time of sale of the tender document and receipt of tender;
4. place or the website from which the tender document can be obtained; and
5. amount of earnest money deposit/bid security to be deposited.