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Difference between Invitation For Bid(IFB) and Invitation For Quote(IFQ)

This page describes difference between Invitation For Bid(IFB) and Invitation For Quote(IFQ).

Invitation For Bid(IFB)

This document IFB informs sellers that the buyer/company wants them to submit proposals against their requirements. The sellers will respond in the form of RFI(Request for Information) and RFP(Request for proposals).

Invitation For Quote(IFQ)

This document IFQ informs sellers that buyer/company wants them to submit quotation as per fixed price contract terms in order to do the project work.

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