Submitted by: Submitted by blabla01
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Pages: 6
Category: Business and Industry
Date Submitted: 01/10/2012 02:50 AM
QUOTATION AND TENDER PROCEDURE
1. DEFINITIONS
Best Value -The best mix of price, quality, specification compliance, terms, conditions, experience and reputation as they apply to a particular purchase.
Bid -A supplier’s response to a call for request for proposal (RFP), request for quotation (RFQ) or public tender.
Call for Tender - An invitation to suppliers to submit a tender or proposal for the purpose of obtaining a procurement.
Price Quotation -A comparison of price and other purchase criteria completed prior to the purchase of any goods or services totalling $5001-$25,000.
Procurement - A supply contract, a services contract, or a construction contract.
Request for Quotation (RFQ) -A document requesting price for specific goods or services
from suppliers.
Request for Proposal (RFP) - A document used for purchases that are not conducive to a
price-per-unit only quote. Suppliers are asked to prepare and submit a proposal that may
include, but not limited to, such details as pricing, design and specifications, and
implementation plans.
Selection Criteria -The attributes of the best value quotation (i.e. price, quality, specification
compliance, terms, conditions, experience and reputation) that apply to a specific call for
tender.
Services Contract -A written agreement for the supply or performance of a service that may
also include goods required to perform that service. The service portion, however, constitutes the major cost.
Sole Source -A single outlet for retaining a good or service.
Supplier - A company or individual that provides goods and/or services.
Supply Contract - An agreement for the purchase, lease or rental of goods and may
include freight, installation and maintenance.
Weighting - The value assigned to each selection criteria in the call for tender.
2. PROCESS
2.1 Sole Source
Sole source purchases are exempt from the competitive quotation requirement, however, for...