RFB: (Request for Bid) Commonly used when deliverables are commodities for which there are clear specifications and when price will be the primary determining factor.
RFI: (Request for Information) Commonly used to develop lists of qualified sellers and gain more input for resource availability.
RFP: (Request for Proposal) Commonly used when deliverables are not well-defined or when other selection criteria will be used in addition to price.
RFQ: (Request for Quotation) Commonly used when deliverables are commodities for which there are clear specifications and when price will be the primary determining factor. Unlike an RFB, this solicited price quote is used for comparison purposes and is not a formal bid for work.
Thursday, October 11, 2012
RFP vs. RFB vs. RFQ vs. RFI
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