Invitation for Bid (IFB)
A type of procurement document most commonly used when deliverables are commodities for which there are clear specifications and when quantities are very large. The invitation is usually advertised, and any seller may submit a bid. Negotiation is typically not anticipated. These are sometimes used interchangeably with RFPs. Generally, this term is equivalent to RFP. However, in some application areas, it may have a narrower or more specific meaning.
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PMP Prep Terms and Definitions (2024) Copyright © by PMConnection - (392 reads) | 
