Tender – contract law

Dear Sir,
First of all, as all of us here, thank you immensely for the help. I am self-sudying and working full time, I wouldn’t have been able to get trough the syllabus without your lectures!

While doing a mock exam I encountered questions regarding tenders in contract law.
I haven’t found anything in my course book nor in the OpenTuition notes on this topic.

Could you please explain, in terms of contract law, what does a tender offer represent and what is the acceptance?
My thoughts are the following:
– Request for tender = invitation to treat
– Submission of tender = offer
– Acceptance of tender = acceptance
– If negotiation on price of tender = counter-offer
As a consequence, when submitting the tender, only the party submitting the tender is bound by the terms (it’s an offer – not a contract yet).
Could you please let me know if my reasoning is correct?

Thank you very much,
Anne