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Project Procurement: A Real-World Guide for Procurement Skills by Ajay Bhargove

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CHAPTER

3

Bidding and Methods

This chapter discusses methods for getting information from internal or external organizations.

3.1 Definitions

  • Request for quotation

    A request for quotation (RFQ) is a standard business process inviting suppliers into a bidding process to bid on specific products or services. RFQ generally means the same thing as invitation for bid (IFB). An RFQ typically involves more than the price per item.

  • Request for information

    A request for information (RFI) is a standard business process for collecting written information about the capabilities of various suppliers. Normally, it follows a format that can be used for comparative purposes.

  • Request for proposal

    A request for proposal (RFP) is a solicitation to potential ...

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