Aug 27

Major Blunders to Be avoided While Tendering

tender mistakesMost of the people file for tenders in a hasty manner which indeed has a chain of disadvantages. Let us glance at some of the common mistakes committed by the users. I would like to begin with the pricing which must be significantly kept in mind prior to the submission if proposal or bid. It is observed that many people ignore the budget specified by project owner and quote for the cost which is higher than the estimated price. It clearly specifies that these applicants may not be considered for the procurement of project. Presentation issues are among other basic flaws that need to be rectified before submission. By presentation, I want to address the concern of formatting of the RFP which attracts the attention of client primarily. Continue reading

Jul 24

Request For Quotations (RFQ)

Request For Quotations (RFQ)Document used in soliciting price and delivery quotations that meet minimum quality specifications for a specific quantity of specific goods and/or services. RFQ are usually not advertised publicly, and are used commonly for (1) standard, off-the-shelf items, (2) items built to known specifications, (3) items required in small quantities, or (4) items whose purchase price falls below sealed-bidding threshold. Suppliers respond to a RFQ with firm quotations, and generally the lowest-priced quotation is awarded the contract. See also invitation to bid (ITB), request for tenders, and request for proposals.