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HOW TO BUILD YOUR BUSINESS
Cultivate integrated markets
Do you want to build a business relation with us? If so, reading this article could save you from getting in to a lot of trouble!
Request for Proposal (RFP)
Request for Proposal (RFP) is a formal method of receiving detailed and comparable proposals from different suppliers for a specified product or service. It is a comprehensive document that should provide all the required information needed to make an informed purchasing decision for strategic purchases. An RFP process may take anything from a few weeks to six months.
Request of Quotation (RFQ)
Request of Quotation (RFQ) is a competitive bid document used when inviting suppliers or contractors to submit a price bid products or services where the requirements are standardized or produced in repetitive quantities. An RFQ is often used for high-volume/low-value items and should be completed more quickly than an RFP.
