Nowadays, Most of commercial transactions are being carried out electronically device over the Internet. Each and every process like bidding request by means of tendering, responding to such tenders, getting it and completing all payment and billing process is being performed by online process. The most enthralling part of online tendering is that in such transactions, no need to appear requester and bidder in front of each other physically. One can file a tender from any corner of the world on the requester’s website by means of E-Tendering. But due to security reason all such types of websites require a Digital Signature before filing it. Hence it is essential to get a digital signature before online tendering.
In older days, tendering was performed manually on paper document basis. Such processes were time taking, lengthy and cause of extra expenses. There was also some probability of repudiation and fraudulence while the transaction is processed. Along with development of Computer Internet, the process has been modified electronically.
Most of the government and private organizations has adopted an E-Tendering system preferably. Because it has a lot of advantages like
• It replaced lengthy paper documents successfully.
• It is timeless process.
• Efficient communication medium between bidder and tendering organizations.
• Cost effective
• Optimized security
• Better transparency.
• Reliable and easy to tender regardless of location.
E-Tendering offers a large opportunity for the bidders because of its automated process. It has optimized the procurement cycle and improved the work efficiency. Thus, it has become very easy for requesting organization to get their best deal. Since it is very confidential business transaction, the user must go through a secure authentication process. This authentication process requires Digital Signature for E-Tendering. According to IT Act-2000, Class 3 Digital Signature Certificate mandated for e-tendering. Without Digital Signature you are not permitted to file an e - tender. The Digital Signature Certificate is divided into three types and named as Class 3 Class 2 and DGFT. Class 3 DSC is the most secure digital Signature. It comes in Signing Certificate and Encryption Certificate.
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