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A request for quotation (RfQ) is a business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services. RfQ generally means the same thing as Call for bids (CfB) and Invitation for bid (IfB). [1] An RfQ typically involves more than the price per item.
Invitation to tender. An invitation to tender ( ITT, also known as a call for bids [1] or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have ...
Private electronic market. Software. v. t. e. A reverse auction (also known as buyer-determined auction or procurement auction) is a type of auction in which the traditional roles of buyer and seller are reversed. [ 1] Thus, there is one buyer and many potential sellers. In an ordinary auction also known as a forward auction, buyers compete to ...
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Loudermill letter. In employment law, a Loudermill letter is a letter that public-sector employers may send to employees giving notice of their intent to suspend, demote, or terminate. According to Cleveland Bd. of Educ. v. Loudermill, the process that is due a public employee includes a pre-termination hearing that provides "oral or written ...
In rounds with multiple investors, the lead investor is given priority and is often the only investor quoted. Quote from the founder or CEO. Company boilerplate. New funding announcements benefit ...
A request for information ( RFI) is a common business process whose purpose is to collect written information about the capabilities of various suppliers. [ 1] Normally it follows a format that can be used for comparative purposes. An RFI is primarily used to gather information to help make a decision on what steps to take next.
Blanket order. A blanket order, blanket purchase agreement or call-off order [1] is a purchase order which a customer places with its supplier to allow multiple delivery dates over a period of time, often negotiated to take advantage of predetermined pricing. It is normally used when there is a recurring need for expendable goods.