Defence eprocurement, Tenders board, Ungm tenders, Public tenders

1. WHAT IS RFQ IN PROCUREMENT? Before we get in more into tittle we need know what is RFQ (Request for Quotation). I am sure most of you come to know with its full form. In simple language if anyone want to do any work for which they need the right budget for that work. This also known as Invitation to bid in which a company solicits select suppliers and contractors to submit price quotes and bids for the chance to fulfil certain tasks or projects. This RFQ allows vendors to submit bids and this they request people to do. To check the charges or price for the precise product or service for which they want their work to be done. This will help you find the best vendor who you need to hire with best price and this you will mostly see in all government contracts. Now you will be thinking which all thing you need to take care before you submit your RFQ then you check below for same. ➢Exact specifications for the product you want to buy, including quantities ➢A request that the vendor itemize costs so you can compare bids ➢A deadline for submitting responses ➢A timetable for delivering the product or service ➢A system for comparing bids easily Remember a statement from any potential merchant is only that: a statement. It's anything but a firm proposition and an organization cannot utilize a RFQ as an agreement or formal arrangement. When you stretch out a proposal to the provider and the seller acknowledges, then, at that point, you make the last agreement. RFQ can likewise represent demand for capabilities. Utilize a solicitation for statement to decide the best cost for a particular item or administration, and utilize a solicitation so that capabilities to screen potential sellers might see whether they can address your issues and regardless of whether they hold fast to your monetary and expert guidelines.