What is an eRFQ?
Category:
General Inquires
Answer:
eRFQ is an acronym for Electronic Request for Quotation. It is a Commercial Bid Invitation that requires Suppliers to submit their commercial quotation electronically. A Buyer forwards an eRFQ (a template that specifies the price format for a particular product/service) to a Supplier. The Supplier responds to the eRFQ by providing the price and feasibility of supply for the product or service desired in accordance with the provided format. The Buyer (in conjunction with NUIMS and NCDMB) upon receipt of the eRFQ, evaluates the bids and selects the winner.