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Getting Through Government Acronym Soup

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Submitting a government bid can be a daunting task if you are unfamiliar with the lingo. Are you familiar with the acronyms IFB, RFP, RFQ, and RFI? This article will help you navigate through the acronyms with ease.

Information provided by Charlene Bostic, Florida SBDC at USF.

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Getting Through Government Acronym Soup

  1. 1. GETTING THROUGH GOVERNMENT ACRONYM SOUP GETTING THROUGH GOVERNMENT ACRONYM SOUP
  2. 2. IFB - INVITATION FOR BIDIFB - INVITATION FOR BID
  3. 3. • IFBs are sealed bids • Used when award is made based on the lowest price • There must be more than one bid submitted • Used when the government knows exact needs • Bids opened at time and location specified in solicitation • Opening of bids are made public IFB - INVITATION FOR BIDIFB - INVITATION FOR BID SBDCTampaBay.com
  4. 4. RFP - REQUEST FOR PROPOSALSRFP - REQUEST FOR PROPOSALS
  5. 5. • Used when needs of government are uncertain • Businesses must design product around agency needs • No public openings used for this type acquisition • Discussions/negations are required • Acquisition can be competitive or sole source RFP - REQUEST FOR PROPOSALSRFP - REQUEST FOR PROPOSALS SBDCTampaBay.com
  6. 6. RFQ - REQUEST FOR QUOTERFQ - REQUEST FOR QUOTE
  7. 7. RFQ - REQUEST FOR QUOTERFQ - REQUEST FOR QUOTE SBDCTampaBay.com • Acquisition is not binding • Acquisition is not accepted by the government • Government uses quote to request items • Solicitation form must be signed by vendor and agency
  8. 8. RFI - REQUEST FOR INFORMATIONRFI - REQUEST FOR INFORMATION
  9. 9. RFI - REQUEST FOR INFORMATIONRFI - REQUEST FOR INFORMATION SBDCTampaBay.com • RFIs are not used as acquisition method • Used to request information about vendor’s qualifications • Government issues RFP or RFQ after receiving information

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