Difference between Tender and RFP | Tender and Request for Proposal difference | Harshad Barge
What Is the Difference Between RFP and RFQ?
Say a hardware store is expanding its gardening supplies department and needs to find the suppliers necessary to fill its shelves. It might send out a request for quotation (RFQ) to a number of potential suppliers of gardening products. The responses will enable it to establish a relationship with one or more suppliers of the quantity and quality of goods it needs, at a price that is established.
When a company or other organization sends out an RFQ it knows exactly what it needs and is seeking the best supplier or suppliers.
An RFP is a more open-ended process. The business or organization is seeking qualified contractors to carry out a new project. The project and its goals are defined in some detail but there is room for creativity in the responses. For example, an RFP for a children’s park might allow the contractor to propose the precise layout, equipment, and amenities the park might contain.
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