We understand that procurement can be confusing. Organisations often use different terms to describe the same thing. With that in mind, we designed this glossary to make buying with us and navigating our website easier. It is not designed to be an extensive list of all procurement terms.


Request for proposal (RFP)

Buyers can invite potential suppliers to submit a business proposal through a bidding process. The business proposal could be for the supply of a commodity, service or asset. This is sometimes known as either Invitation to Tender (ITT), a Request for Quotation (RFQ) or a Request for Tender (RFT).