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What is the process of request for quotation?

A request for quote (RFQ), also known as an invitation for bid (IFB), is a process in which a company solicits select suppliers and contractors to submit price quotes and bids for the chance to fulfill certain tasks or projects.

Is the simplified acquisition threshold $250000?

The simplified acquisition threshold was changed to $250,000 by statute (see FAR Case 2018004). No further increase in the basic threshold is proposed, as there has been insufficient inflation.

When to use Request for Quotation?

A Request of Quotation (RFQ) is a competitive bid document used when inviting suppliers or contractors to submit a price bid for products or services where the requirements are standardized or produced in repetitive quantities.

What is the threshold for request for quotation?

Procurement MethodMaximum or minimum level of expenditure allowed for the use of a particular procurement method Request for quotations(s 88 of the Act) Maximum level of expenditure under this method is KSh 500,000 Maximum level of expenditure under this method is KSh 500,00010 more rows

What is the SAT threshold?

The Simplified Acquisition Threshold (SAT) is the dollar amount in federal acquisition represented by the anticipated award amount of a contract, under which contracting officers are directed to use simplified acquisition procedures to solicit and award the resulting contracts.

What is the far part 13.5 threshold?

FAR Subpart 13.5 provides special authority for acquisitions of commercial items exceeding the simplified acquisition threshold but not exceeding $7 million ($13 million for acquisitions as described in FAR 13.500(c)), including options.

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