RFQ, RFP, Bid, SOW, contract sequence
Submitted by hsingh78 on Thu, 08/11/2011 - 11:20
Hi,
Can someone please explain what is the process of this. I am bit confused what is done when. IS it first the RFP ->Bid .....contract.
If anyone can provide a practical example, it would be great.


admin
Fri, 08/12/2011 - 04:12
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First there is Request or
First there is Request or quote or RFP which is sent by Buyer, Sellers repond to it with proposal or Bid indicating their terms / conditions. Finally when the winning bidder / seller is selected, you sign the contract with them and then SoW. By contract I mean Master service agreement which will indicate the generic terms and conditions of engagement and SoW will have details about the current project scope etc.
hsingh78
Fri, 08/12/2011 - 12:52
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Thanks.
Thanks.