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This lecture is part of the summer course of 2016 on Quantity Surveying handled by J S Packiaraj, Asst. Professor (Senior). VIT University, Vellore, India. This lecture is the first part of a lecture to the undergraduate students on Contracts and the Tendering process followed in the Indian Construction Industry. The second part of this lecture may be found at https://youtu.be/25UTB3GUv5M The principles of the same are applicable to the international market as well as to any other discipline where a job is undertaken as a contract. Important terms associated with Contracts and Tendering are explained. It draws from the experiences from industry with work that has been undertaken and done hands on. Additional information on how to study a tender document is found at https://youtu.be/4GzR8TfM4TA