Is inclined to accept an old monarch’s offers (7)

I believe the answer is:
tenders
'offers' is the definition.
(tendering is a kind of offering)
'is inclined to accept an old monarch's' is the wordplay.
I cannot really see how this works, but
'monarch's' could be 'ers' (abbreviation for Elizabeth Regina, British Queen) and 'ers' is located in the answer.
The remaining letters 'tend' is a valid word which might be clued in a way I don't understand.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for tenders that I've seen before include "They provide supplies to other ships" , "Offers to do work for a stated amount" , "Supply ships" , "Bids" , "Dinghies towed by ships" .)
