- Request for tender
A Request for Tender, commonly abbreviated to RFT, is a structured invitation to suppliers for the supply of products and/or services.
As a consequence of the scale and complexity of the tender process the majority of RFT’s are published by government sector agencies at the local, state and federal levels. Companies in the infrastructure and utilities sectors may also periodically publish RFT’s
The closest equivalent to an RFT in the mainstream
private sectoris a Request for Proposal (RFP), which typically has a less rigid structure.
An RFT is usually an open invitation for suppliers to respond to a "defined" need as opposed to a request being sent to selected potential suppliers. The RFT often requests information gathered previously from a RFI. This will usually not only cover product and service requirements, but will also ask for information about the suitability of the business. [ [http://www.negotiations.com/articles/procurement-terms/ Article explaining Request for Tender in business] ]
The more rigid structure of an RFT assists the submission normalisation process.
Related Proposal Types
Other members of the RFx family include:
EOI - Expression of Interest
RFA - Request for Applications
RFD - Request for Documentation
RFI - Request for Information
RFO - Request for Offer
RFQ - Request for Quotation
RFP - Request for Proposal
ROI - Registration of Interest
* [http://www.mapurdy.com.au/public/bidtips/wct/bidtip6.wct Typical RFT Process Stages]
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