Tender Byte No 2 : “Demystifying the TLAs (3 letter abbreviations)”

The world of formal tendering is full of buzz words and acronyms. Formal opportunities come with all sorts of labels. These can be broken down into those where you are invited to pitch for contracts, and those where, at this stage, they just want information from you.

The TLAs used include:

ITT – Invitation to Tender
PQQ – Pre Qualification Questionnaire
RFI – Request for Information
RFP – Request for Proposal
RFQ – Request for Quotation

What’s more, if you are new to tendering, this is just the first encounter you will have with a whole new world of phraseology and terms that can be completely mind-numbing! See tender words.

Future Tender Bytes will be designed to provide tips and hints into this world – and ultimately demystify it!

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