Glossary: RFQ · RFP · RFI · RFx
When a buyer invites you to take part, you'll receive one of the request types below. Knowing the type tells you exactly what's expected of you.
The specifications are set; you're asked to price the required items precisely.
You're asked to submit a technical proposal (approach and documents) alongside the price; the technical side is evaluated first.
The buyer is gathering information about your capabilities or the market; no commitment to buy, and usually no final price is requested.
A request in a foreign currency with international delivery terms; you submit your offer in your own currency and the system normalizes it for comparison.
A live price competition; you compete with other suppliers on price within a set time window.
Your offer here — and everyone else's — stays locked and hidden until the deadline passes, then all offers are revealed at once. Put forward your best price the first time, since you won't see anyone else's offers before the reveal.
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Teradix Reference — Glossary