Jurisdiction(s):
United Kingdom

Key definition

Tender definition

What does Tender mean? In capital markets practice, a tender is a method of issuing securities in which investors are invited to submit competitive bids at or above a stated minimum (reserve) price. The issuer or bookrunner ranks bids by price and allocates securities in descending order until the offer size is filled; pricing is set at the clearing level. Depending on the terms, either all successful investors pay a single uniform price, or each pays the price bid (pay‑as‑bid). Used for equity offerings (offer for sale by tender/issue by tender) and some debt auctions, it offers transparent price discovery as an alternative...

Winning Law Firm Proposals: Managing, Drafting and Submitting Client-Focused, Compliant and Value-Driven RFP/ITT Responses

Published by a LexisNexis Practice Management expert

Practice notes

Producing a proposal document demands more than good writing skills. Several distinct tasks must be completed to the right timetable and in the proper order. Co-ordinating the team’s input calls for care, planning and resolve. If key steps are missed or mistimed, the process can rapidly slip out of control. This Practice Note offers guidance for law firms on important points to address when preparing a proposal document. It assumes the firm has chosen to pitch. For further guidance on pitching for business, see Practice Note: Pitching for business and Precedent: To bid or not to bid questions.

The importance of good management

Effective management and clear leadership are essential to deliver a compelling proposal. This can rest with one person or be shared, for example by the pitch lead and a senior BD person. In a joint arrangement, the pitch lead principally directs other lawyers and promotes strong teamwork, while the BD person handles the co-ordination and production of the proposal to the agreed timescales. Sharing leadership and management gives each a source of mutual support...

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Jon Whittle

Jon Whittle Consulting Ltd

Jon is a specialist in developing legal businesses using market intelligence and customer insight to implement successful programmes for change. He works with law firms to create sustainable growth alongside successful project management, implementing new technologies and evolving business operations. Jon has been working on the future of law firms for more than fifteen years, focusing on the strategies and tactics that help firms build real and defendable competitive advantage. Whilst working in a senior leadership role at LexisNexis he was also the architect and author of the widely read LexisNexis Bellwether Reports and is a recognised authority on how law firms can build and grow. Previously, Jon worked, for two decades, at board level, in some of the UK’s largest media companies, transforming traditional businesses into growth in the digital age. He now applies the fruits of this experience,...

Web page updated on 21/05/2026

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