WOTC - Tender system

I asked this question in the Wisdom of the Crowd:

Is it good to rely on a tender system?

Here are the responses: (63 Votes)

59 % - The tender system can be subject to manipulation or unrealistic low bidding.
17 % - It is better to use benchmarks to get a right price.
16 % - It is the best system to award jobs to contractors.
8 % - It is only suitable for complex jobs where there are no reliable benchmark.

See the pie chart at: 
http://www.wisdomofthecrowd.sg/chart.aspx?ID=1013