Dictionary of Procurement Terms

Similar to an Invitation for Bids (IFB), a solicitation issued when two or more sources of supply have been identified, the requirement can be adequately defined, and the entity intends to accept the lowest-priced responsive tender from a responsible offeror without negotiations.

A document that lists the goods or services provided and the sum due for such; a bill.

A set of international standards and guidelines published by the International Organization for Standardization that documents the system elements required to maintain any efficient quality system. ISO 9000 deals primarily with quality and ISO 14000 with environmental management.

UPPCC Style Guidelines for CPPO and CPPB examinations list Invitation for Bids (IFB) as the preferred term.

A maximum dollar value or a fixed-term construction contract resulting from a competitively bid solicitation in which the contractor will perform according to separate job orders issued during the term of the contract. Prices for each job order are based on a unit price book (UPB).