Request for Quote (RFQ)
An RFQ is a document issued to prospective bidders to obtain quotations for definitive products or services and awarded to the lowest compliant bidder. An RFQ is used for purchases between $3,500 and $49,000.
Invitation for Bid (IFB)
An IFB is a document issued to prospective bidders to obtain bids for definitive products based on specifications and specific terms and conditions. Itâs awarded to the most responsible bidder submitting the lowest bid. An IFB is used for purchases greater than $49,000.
Request for Proposal (RFP)
An RFP is a document issued to prospective bidders based on a generalized scope of work and awarded to the most responsible bidder submitting the most advantageous and responsive proposal.
Request for Qualifications and Quote (RFQQ)
A Request for Qualifications and Quotations (RFQQ) is a more streamlined procurement document that may be used when the project scope and associated tasks are well defined. The objective of an RFQQ is to select the firm most qualified to perform the work defined in the RFQQ at a competitive price.
The process is similar to that used for a Request for Proposals, but is less comprehensive, since a technical proposal or work plan is not being requested from the bidders. The evaluation is limited to an analysis of the firm's qualifications, experience and ability to perform the specified services and their costs. The weighting of these factors is contingent upon agency need.