Based on the provided reference, RFB stands for Request for Bid.
Understanding Request for Bid (RFB)
An RFB is a formal document used in procurement processes by organizations to solicit price quotations from potential suppliers or contractors for specific goods or services. It outlines the requirements, specifications, terms, and conditions under which a bidder must provide their proposal.
According to the reference, the term RFB means:
Request for Bid and any attachments, exhibits, schedules or addenda hereto.
This indicates that an RFB is not just the core request document but includes all supplementary materials that provide additional detail or modify the original request.
Components of an RFB
As per the definition, an RFB encompasses several parts:
- Request for Bid (Core Document): This is the primary document detailing the required goods or services, scope of work, technical specifications, evaluation criteria, and instructions for submitting a bid.
- Attachments: Supplementary files or documents included with the main RFB.
- Exhibits: Materials that are part of the RFB, often used for illustrative purposes or to show examples.
- Schedules: Detailed lists or timelines related to the project or delivery.
- Addenda: Formal modifications or additions issued after the initial RFB has been released, providing clarifications or changes.
The Bid Response
The reference also clarifies the term for the supplier's submission. A written response submitted by a potential supplier, known as a Bidder, is formally considered a Bid Response. This response addresses the requirements outlined in the RFB and provides the bidder's proposed pricing and solution.
In essence, an RFB is a comprehensive package of documents inviting suppliers to submit a formal price proposal (a Bid Response) for a clearly defined need.
