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Changing the Buyer/Suppleir Relationship: A Paradigm Shift

Changing the Buyer/Suppleir Relationship: A Paradigm Shift

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TERM	DEFINITION
RFP	Request for Proposal that outlines specific requirements.
RFQ	A request for information on pricing on a specific item.
Tender	Pre Proposal Conference Meeting held between buyer and suppliers for the purpose of information giving and answering of any questions.
Appeal	Means of appealing.
Evaluation	Evaluation of proposals.
Recommendation for Award	Internal process giving reasons for decision.
Award Contract	To specific supplier.
Contract	Formal contract signed between two parties.
Performance Standards	Specific standards required under the contract.
Termination clauses	Reasons for terminating the contract.
Period of Performance.	Period of contract e.g. 1 year, 2 years etc.
Request for Financial Proposal	Separate section covering financial aspects.
Request for Technical Proposal	Separate section covering technical aspects.
RFI	Request for Information - usually sent prior to RFP
EOI	Expression of Interest - can be sent prior to RFP
ROI	Registration of Interest - can be sent prior to RFP.
RFT	Request for Tender - issued instead of RFP
Negotiation	Prior to contract.
Direct Sourcing	One supplier source.
ITT	Invitation to Tender
ETS	Electronic Tendering System
Complaint System	A means of making a complaint and the mechanism for resolving.
Trade Agreement	Agreements between multiple countries.