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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.
Request for information. 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 ...
A proposal puts the buyer's requirements in a context that favors the seller's products and services, and educates the buyer about the seller's capability to satisfy their needs. [2] There are three distinct categories of business proposals: formally solicited, informally solicited, unsolicited.
Request for proposal. A request for proposal ( RFP) is a form of reverse auction that solicits a business proposal by an organisation interested in the procurement of a service or product from potential suppliers. [ 1] It is usually part of a complex sales process, and made through a bidding process. [citation needed]
A letter of intent ( LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement, term sheet or memorandum of understanding. Merger and acquisition agreements, [ 1] joint venture agreements ...
A bonded warehouse, or bond, is a building or other secured area in which imported but dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty. [ 1] They may then be again exported without payment of duty. It may be managed by the state or by private enterprise.
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