In 2025, the rules have changed significantly. The Procurement Act 2023 has now come into force and created a new regime for public procurement in England, Wales and Northern Ireland. It replaces much of the old EU-based framework (Public Contracts Regulations 2015) for new procurements started on or after 24 February 2025.GOV.UK+1

Tenders play a crucial role in the world of banking, finance, and insurance. But what exactly are tenders and how do they work? In this...