What do the terms RFP, RFB, and RFQ primarily describe?

The terms RFP (Request for Proposal), RFB (Request for Bid), and RFQ (Request for Quotation) primarily describe components of solicitation. Each of these terms is a method used by organizations, especially in government contracting, to invite vendors to submit proposals for providing goods or services.

An RFP is typically used when the purchasing organization is looking for detailed proposals that include not just pricing, but also how the supplier plans to meet specific requirements, their qualifications, and other factors. An RFB is often used when the organization is seeking straightforward pricing for a project and prefers to collect bids based on defined specifications. An RFQ is used when the organization wants to request pricing information on specific goods or services and typically receives simpler responses since the specifications are well defined.

By understanding that these terms describe different methods of solicitation, it becomes clearer how organizations communicate their needs to potential suppliers and gather the necessary information to make informed purchasing decisions. This understanding is foundational in navigating the contracting process effectively.