tender of defense (2024)

FAQs

What does it mean to accept a tender of defense? ›

A tender of defense is the act in which one party places its defense and all costs associated with said defense with another due to a contract or other agreement.

To that end, your tender letter should include the name of the party you represent, a brief recitation of the facts of the case, and the basis upon which you are seeking a tender. The language in the tender letter should be lifted directly from the relevant contractual provision for clarity and emphasis.

What is the Tender of Defense? Tender of defense is a term used in the insurance industry to refer to the process by which an insured party requests that their insurer assume responsibility for defending against a legal claim or lawsuit.

Insurance companies often use the words “tendering” a claim. They argue that policyholders must “tender a claim” by using exactly the right words in order to obtain coverage under the insurance policies. Specifically, they argue that until the claim is “tendered,” they do not have a duty to defend the policyholder.

Should shareholders accept a tender offer? If you own stock in a company subject to a tender offer, the bid could represent an opportunity to sell shares for significantly more than their market value. The offer may allow you to make a nice profit, although it's important to consider the potential capital gains taxes.

If you don't respond to a tender offer, that's essentially refusing the offer. Since you aren't explicitly agreeing to the offer, your shares won't be sold.

I / We hereby unconditionally accept the tender conditions of above-mentioned tender document(s) / corrigendum(s) in its totality / entirety. 5. I / We do hereby declare that our Firm has not been blacklisted/ debarred/ terminated/ banned by any Govt. Department/Public sector undertaking.

Tender is to unconditionally offer money or performance to meet an obligation.

FORM OF LETTER OF ACCEPTANCE

I refer to your tender for the above Contract dated (the Tender date). Terms used in this letter that are defined in the Conditions of that Contract have the same meaning in this letter. I write to inform you that [name of Employer] accepts the Tender.

A tender offer is a public bid for stockholders to sell their stock. Typically, a tender offer is commenced when the company making the offer – the bidder – places a summary advertisem*nt, or “tombstone,” in a major national newspaper and the offer to purchase is printed and mailed to the target company's stockholders.

What does it mean to tender defense and indemnification? ›

A tender is a demand made to someone who has (or should have) primary responsibility or liability for some casualty, either by law or by contract, to indemnify, and possibly to defend, an innocent or passive defendant from a claim or lawsuit.

A tender is a formal offer to supply goods or to do a particular job, and a statement of the price that you or your company will charge. If a contract is put out to tender, formal offers are invited. If a company wins a tender, their offer is accepted. [business]

1 a : to make a tender of [ goods] [ delivery] [ payment] [ performance] b : to offer as an amount in settlement of a claim by an injured party against an insured NOTE: An insurance company might be obligated to tender the limits of a policy to an injured party when a higher amount is likely to be awarded at trial.

The shares of stock purchased in a tender offer become the property of the purchaser. From that point forward, the purchaser, like any other shareholder, has the right to hold or sell the shares at their discretion.

Under U.S. Securities and Exchange Commission (SEC) rules and the Securities Exchange Act of 1934, tender offers must remain open for at least 20 business days to allow sellers to ask questions, examine the documents, consult an advisor, and decide whether to participate.

Acceptance of Tender means the letter or memorandum communicating to the supplier the acceptance of his offer (Tender) and shall include advance acceptance of his offer i.e. Letter of Intent or Rate Contract.