RFQ, RFP, Bid, SOW, contract sequence

Hi,


Can someone please explain what is the process of this. I am bit confused what is done when. IS it first the RFP ->Bid .....contract.


If anyone can provide a practical example, it would be great.

admin's picture

First there is Request or quote or RFP which is sent by Buyer, Sellers repond to it with proposal or Bid indicating their terms / conditions. Finally when the winning bidder / seller is selected, you sign the contract with them and then SoW.  By contract I mean Master service agreement which will indicate the generic terms and conditions of engagement and SoW will have details about the current project scope etc.

Thanks.