Can the summary be electronically signed?

Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. §7001) and UETA in most states; confirm any solicitation-specific rules or exceptions in the procurement documents.

What if the price changes after submission?

Price changes post-submission generally require a formal amendment or withdrawal and resubmission as allowed by the solicitation; unilateral alterations risk disqualification or contract breach.

Who is authorized to sign the summary?

The signer should be an authorized representative named in corporate documents or power of attorney; procuring entities typically require evidence of signature authority.

Is notarization required for the summary?

Not typically required for price summaries; some state or agency procurements may request notarized attestations—verify solicitation terms and applicable state law.

How can I correct a submitted error?

Notify the procuring entity immediately. Remedies may include submitting a formal clarification, correction per solicitation procedures, or withdrawing and re-submitting the bid if allowed.

How long must records be kept?

Retain tender records for the contract term plus applicable statute periods: at least 3 years per IRS guidance (IRC §6501) and longer where industry rules apply.

Electronic Signature
Templates
Finance
Financial Tender Price Summary

Financial Tender Price Summary

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

FINANCIAL TENDER PRICE SUMMARY

Project & Tender Reference

Project Name:

Project Reference / Contract No.:

Procuring Entity / Client:

Tender No.: Currency:

Submission Date: Tender Validity (days):

Tenderer Information

Company / Legal Entity Name Registered Address

Contact Person

Phone

Email

Business Registration No.

Tax / VAT ID

Itemized Price Schedule

Complete the following schedule. All amounts shall be expressed in the currency declared above and exclusive of taxes unless otherwise stated.

No.	Description	Qty	Unit	Unit Rate	Total
1
2
3
4
5
6
7
8

Subtotal (sum of item totals):

Applicable Taxes (specify rate):

Contingency / Allowances:

Other Adjustments (discounts, escalation):

Total Tendered Price:

Breakdown & Assumptions

Cost Breakdown by Category Assumptions and Exclusions

Terms, Adjustments & Certifications

Price Basis: The prices stated herein are based on the scope, drawings and specifications provided in the tender documents. Price adjustments arising from changes to scope, statutory changes, or unforeseen site conditions shall be subject to written variation and mutual agreement prior to execution.

Payment Terms: Payment will be made in accordance with the contract payment schedule. Unless otherwise stated, progress payments shall be made against certified invoices within the period specified in the tender documents. Late payments may attract interest at the rate specified in the contract.

Taxes and Duties: All statutory taxes, duties and withholdings shall be identified and quantified in this submission where applicable. Where taxes are omitted from this summary, they will be charged in addition to the Total Tendered Price.

Declarations (select each applicable) I certify that this tender has been prepared without collusion and in compliance with all applicable laws and tender rules. I confirm the tenderer has the financial capacity to perform the obligations at the tendered price. I confirm this tender price remains valid for the period stated in this form and will not be withdrawn during that period.

Additional Terms or Qualifications

Certification

By signing below, the undersigned certifies that to the best of their knowledge the information and prices set forth in this Financial Tender Price Summary are true, correct and complete. The undersigned further warrants that they are authorized to submit this tender on behalf of the named tenderer and to bind the tenderer to the terms of this submission.

Tenderer Name:

By:

Date:

What the Financial Tender Price Summary Is

A Financial Tender Price Summary is a concise, structured statement of pricing submitted as part of a bid or tender package. It lists total proposed price, unit price breakdowns, assumptions, exclusions, taxes, and validity period, and identifies the submitting firm. Organizations use it to compare bids, validate cost components, and as the pricing basis for contract negotiation. The summary may accompany technical proposals, be incorporated into a contract, and is often preserved for audit, compliance, and post-award cost reconciliation.

Why a Clear Price Summary Matters

A clear Financial Tender Price Summary reduces ambiguity during evaluation, speeds review, and helps protect both bidder and procuring entity by documenting pricing assumptions and exclusions in one place.

Who Prepares and Reviews This Summary

Typical preparers and reviewers include procurement teams, bidders' commercial or estimating groups, project managers, and contract administrators.

Bidders' Estimating Teams responsible for compiling unit rates, overhead, and profit; they ensure the summary reconciles to the detailed cost build-up.
Procurement Officers who compare totals, verify compliance with tender terms, and record award justification for audit trails.
Finance and Legal reviewers who confirm tax treatment, payment terms, and contractual pricing clauses align with company policy.

Use the summary as an authoritative pricing record during evaluation, negotiation, and contract signature stages.

Step-by-Step: Filling the Financial Tender Price Summary

Follow these steps in order to prepare a consistent, auditable price summary for submission.

01

Assemble inputs: Gather cost estimates, supplier quotes, taxes, and allowances before entering values.
02

Complete line items: Enter unit, quantity, unit price, and calculate extended totals for each line.
03

Reconcile totals: Verify arithmetic and that the grand total equals the sum of line totals plus taxes.
04

Add declarations: Include any pricing assumptions, exclusions, and the signatory's name and title.

How Electronic Completion and Submission Typically Works

A streamlined eSubmission workflow reduces manual handling and preserves an auditable trail.

Upload document: Attach the PDF or template with required fields prefilled or left fillable.
Place fields: Add price, initials, signature, and date fields for each required signer.
Send to signers: Deliver via email or secure link with signer authentication as needed.
Receive completed: The system logs timestamps and stores the signed PDF plus audit trail.

Recommended eSubmission Configuration

Configure your digital workflow to match procurement rules and evidence requirements for the tender.

Field	Configuration
Authentication	Email with optional SMS code or KBA depending on procurement requirements
Bulk Submissions	Use template and CSV for multiple lots or parallel bids
Conditional Fields	Enable conditional fields for alternatives or optional pricing
Storage Format	Store final as PDF/A with audit trail for long-term retention

Technical Considerations for Digital Signing and Storage

Ensure the eSignature platform supports required authentication, audit trails, and archival formats before eSubmission.

Integrations: Supports Salesforce, NetSuite, Google Workspace, and common ERPs
File types: Accepts PDF, DOCX, and Excel formats
Audit Trail: Captures timestamps, IP, and action history

Confirm platform capabilities with procurement rules and legal counsel to meet evidence and retention requirements.

Key Security and Compliance Details

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest

Audit Trail: Detailed logs include IP, timestamp, and actions

Certifications: SOC 2 Type II and ISO 27001 certified

HIPAA Support: BAA available for protected health information

21 CFR Part 11: Controls available for FDA-regulated records

Data Privacy: GDPR and CCPA compliance frameworks supported

Common Preparation Pitfalls to Avoid

Omitting assumptions or exclusions that change the meaning of unit prices, creating disputes during evaluation or contract execution.
Arithmetic mismatches between line-item totals and the stated grand total leading to administrative rejection of the tender.
Using inconsistent units of measure (e.g., metric vs. imperial) without conversion notes, causing misinterpretation of quantities and costs.
Failing to state validity period clearly; bids can be invalidated if awards occur after unstated or expired validity windows.

Consequences of Incorrect or Misleading Price Summaries

Bid Rejection: Disqualification from the procurement

Contract Liability: Exposure to damages for misrepresentation

Financial Penalties: Liquidated damages or penalty clauses

Delayed Payment: Payment hold pending clarification

Audit Findings: Procurement audit exceptions

Tax Impacts: Incorrect tax treatment or reporting

Common Timelines and Deadlines to Track

Track submission and post-award timelines closely; some dates may be fixed in the solicitation and non-negotiable.

Submission Deadline:

As stated in the solicitation; late submissions are typically rejected

Bid Validity Window:

Commonly 60–120 days; the bidder must honor pricing during this period

Award Notification:

Often within 30–90 days, depending on evaluation complexity

Contract Execution:

Execution typically required within 14–30 days of award

Record Retention:

Retain tender records per federal and state rules and audit needs

Key Milestones in the Tender Lifecycle

A typical tender proceeds through a predictable set of milestones from preparation to contract signing.

01

Prepare Bid

Compile cost build-up, supporting quotes, and the Financial Tender Price Summary.

02

Submit Tender

Deliver the package by the stated deadline using accepted delivery method.

03

Evaluation Period

Procuring entity reviews technical and commercial submissions and may request clarifications.

04

Award and Sign

Successful bidder executes contract and provides required performance security or bonds.

Real-World Examples of Faster Document Turnaround

These examples show how digital completion and centralized summaries helped organizations process bids and finalize contracts more efficiently.

Tim Martin — Martin Properties

Tim Martin adopted online signing to handle property deal documents quickly

Implementation cut turnaround time by days
He reports processing and executing documents online with compliance and security, enabling faster contract execution without in-person meetings.

Brian Fitzgibbons — Optica Ventures LLC

Optica Ventures standardized price summaries for bids

Templates reduced reviewer questions substantially
The interface is simple for teams and customers, leading to fewer resubmissions and clearer evaluation records.

eSignature Pricing and Capability Comparison

A neutral comparison of entry-level pricing and key capabilities relevant to tender submissions and secure eSigning; signNow is listed first for clarity.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial, no credit card	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Bulk Send	Yes (plan-dependent)	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes (BAA required)	Varies by plan	Varies by plan	Varies by plan	Varies by plan
Envelope Cap	No cap	100 envelopes/user/year limit	Varies by plan	Varies by plan	Varies by plan

Frequently Asked Questions

Common questions about validity, signatures, corrections, and retention for Financial Tender Price Summaries.

Need help? Contact support

Can the summary be electronically signed?
Yes. Electronic signatures are legally valid under the ESIGN Act (15 U.S.C. §7001) and UETA in most states; confirm any solicitation-specific rules or exceptions in the procurement documents.
What if the price changes after submission?
Price changes post-submission generally require a formal amendment or withdrawal and resubmission as allowed by the solicitation; unilateral alterations risk disqualification or contract breach.
Who is authorized to sign the summary?
The signer should be an authorized representative named in corporate documents or power of attorney; procuring entities typically require evidence of signature authority.
Is notarization required for the summary?
Not typically required for price summaries; some state or agency procurements may request notarized attestations—verify solicitation terms and applicable state law.
How can I correct a submitted error?
Notify the procuring entity immediately. Remedies may include submitting a formal clarification, correction per solicitation procedures, or withdrawing and re-submitting the bid if allowed.
How long must records be kept?
Retain tender records for the contract term plus applicable statute periods: at least 3 years per IRS guidance (IRC §6501) and longer where industry rules apply.

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