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Call for tender of banknotes (banknote auction)

February 3, 2021

A procedure established in accordance with public and pre-existing rules and conditions, to receive offers from different banknote printers for the purpose of comparing them with one another and then to choose the one that is most favourable for the entity that calls the tender. The term is used almost as synonymous with auction; the difference, if any, is often found in the greater or lesser importance of the price factor when deciding on the winning bid.