What is the difference between an IFB, RFP, and RFQ, and which documents are appropriate to use when soliciting competition?
IFB (Invitation for Bids) is a solicitation document normally used in soliciting competition for formal sealed bids from potential sources of supply. b) RFQ (Request for Quote) is often used to solicit pricing from a sole source vendor, or used to solicit informal competition on the open market. The RFQ & IFB are very similar in function. State agencies may also solicit competition by using eQuote in E-Procurement when the total value of the contract is less than $10,000 (universities; $25,000). c) RFP (Request for Proposals) is a solicitation document normally used for soliciting competition for contractual and consultant services. The contents of the RFP should include a brief introduction and background of the project, a detailed scope of work, proposal requirements, and criteria for evaluating offers. A RFP or IFB must be used for soliciting competition on contracts valued over $25,000. All of these documents shall include the State’s general contract terms and conditions. Document
