Request for tender

Request for tender

A Request for Tender, commonly abbreviated to RFT, is a structured invitation to suppliers for the supply of products and/or services.

As a consequence of the scale and complexity of the tender process the majority of RFT’s are published by government sector agencies at the local, state and federal levels. Companies in the infrastructure and utilities sectors may also periodically publish RFT’s

The closest equivalent to an RFT in the mainstream private sector is a Request for Proposal (RFP), which typically has a less rigid structure.

An RFT is usually an open invitation for suppliers to respond to a "defined" need as opposed to a request being sent to selected potential suppliers. The RFT often requests information gathered previously from a RFI. This will usually not only cover product and service requirements, but will also ask for information about the suitability of the business. [ [http://www.negotiations.com/articles/procurement-terms/ Article explaining Request for Tender in business] ]

The more rigid structure of an RFT assists the submission normalisation process.

Related Proposal Types

Other members of the RFx family include:

EOI - Expression of Interest

RFA - Request for Applications

RFD - Request for Documentation

RFI - Request for Information

RFO - Request for Offer

RFQ - Request for Quotation

RFP - Request for Proposal

ROI - Registration of Interest

References

External links

* [http://www.mapurdy.com.au/public/bidtips/wct/bidtip6.wct Typical RFT Process Stages]


Wikimedia Foundation. 2010.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • Request for Information — A Request for Information (RFI) is a standard business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes.So an RFI is… …   Wikipedia

  • Request for Quotation — A Request for Quotation (RFQ) is a standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products or services. An RFQ typically involves more than the price per item. Information like payment… …   Wikipedia

  • tender — ten·der 1 n 1 a: an act or instance of tendering b: an unconditional offer of payment or performance (as in discharge of an obligation) that is coupled with a manifestation of willingness and ability to follow through (as by producing a check) c …   Law dictionary

  • Tender — may mean:FinanceA process by which one can seek prices and terms for a particular project (such as a construction job) to be carried out under a contract. The sealed offers themselves, including company information, a project outline, and a price …   Wikipedia

  • tender panel facility — United Kingdom An uncommitted facility under which a company may request competitive bids from a prearranged group of banks (the tender panel members ). The bids are normally to subscribe for euro commercial paper to be issued by the company or… …   Law dictionary

  • For All Debts Public and Private — Infobox Television episode | Title = For All Debts Public and Private Series = The Sopranos Season = 4 Episode = 1 Guests= see below Airdate = September 15, 2002 Production = 401 Writer = David Chase Director = Allen Coulter Episode list =… …   Wikipedia

  • request — n 1. solicitation, entreaty, obsecration, supplication, obtestation, invocation; appeal, petition, suit; plea, pleading, intercession; importunity, adjuration, impetration, imploration; prayer, orison; requisition, behest, demand; application,… …   A Note on the Style of the synonym finder

  • Call for bids — A call for bids, call for tenders, invitation to tender (ITT), or invitation of tenders (often called tender for short) is a special procedure for generating competing offers from different bidders looking to obtain an award of business activity… …   Wikipedia

  • Second request (law) — In United States antitrust law, a second request is a discovery procedure by which the Federal Trade Commission and the Antitrust Division of the Justice Department investigates mergers and acquisitions which may have anticompetitive consequences …   Wikipedia

  • Academy Award for Writing Original Screenplay — The Academy Award for Best Original Screenplay is the Academy Award for the best script not based upon previously published material. Before 1940, there was an Academy Award for Best Story for writing. For 1940, it and the award in this article… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”