Bid Terminology Glossary
Plain-English definitions of bid, RFP, RFQ, IFB, BAFO, and other procurement terms.
Core terms
IFB = Invitation for Bid. RFP = Request for Proposal. RFQ = Request for Quote. BAFO = Best and Final Offer.
Plain-English definitions of bid, RFP, RFQ, IFB, BAFO, and other procurement terms.
IFB = Invitation for Bid. RFP = Request for Proposal. RFQ = Request for Quote. BAFO = Best and Final Offer.