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Glossary of Procurement Terms
Formal Solicitation: A formal invitation to receive quotes, in the form of a request for proposal or an invitation to bid.
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RFP vs RFI vs RFQ: Differences and When to Use Each - RFP.Wiki
These stand for Request for Proposal, Request for Information, and Request for Quotation, respectively. They are all tools to gather information from vendors,
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Learn about: Request for Quote (RFQ)
A solicitation type used to obtain pricing information for clearly defined products or services (e.g. COTS). RFQs are typically used to meet the business needs
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