Understanding Invitation for Bids (IFBs)

government contracting tips

An invitation for bid (IFB) or invitation to bid (ITB) is an invitation to contractors or equipment suppliers¬†to bid on providing a¬†specific project, product, and/or service. An IFB is generally the same thing as an Request for Quotation (RFQ). An IFB/RFQ is focused on pricing, not on ideas or concepts. In an IFB, unless stated otherwise, the contractor or supplier with the lowest bid is awarded the contract, provided that they meet the solicitation’s criteria.


Filed under: Government Contracting TipsTagged with: , , , , , , ,