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Examining Request For Information For Project Procurement

Request For Information For Project Procurement

Examining Request For Information For Project Procurement

 

 

A Request for Information for Project Procurement is a buyer generated document created to solicit information about prospective sellers. The Request for Information help gather information from the seller on various parameters, such as the seller organization’s history, balance sheets, type of business (family-owned, private, public listed and so on), family background, directors’ or owner’s background, succession plans, past three years’ bank statements, plant capacity, and other factors, that may assist in determining the seller’s qualifications.

Request For Information For Project Procurement

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Qualified Sellers List…

A Qualified Seller list contains details regarding sellers who are qualified by the organization and to whom requests can be sent. It is sometimes known as an approved vendor list. The RFI for each vendor is scrutinized and evaluated for qualifying the vendors.

 

The term “qualified vendors” does not mean that the organization is bound to do business with them. It only indicates that in case of any need, the organization will interact with the vendors and RFPs, IFBs, or RFQs will be sent to the qualified vendors. Generally, the vendor identification number or vendor registration number is assigned to qualified sellers.

 

What about bidders’ conferences?

Bidder conferences are meetings conducted by the buyer prior to submissions of a bid or proposal by the sellers. During this meeting, the buyer explains the requirements, proposed terms and conditions and the sellers clarify the buyer’s queries.

 

The buyers facilitate the conference to ensure that all prospective sellers have a clear and common understanding of the technical and contractual requirements of the procurement. Bidders conferences are also called vendor conferences, pre-bid conferences, or contractor conferences.

 

 

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