A request for tender or tender offer commonly
abbreviated to RFT is a structured invitation to suppliers for the supply of
products and/or services. An RFT is an open invitation for suppliers to
respond to a defined need as opposed to a request being sent to potential
suppliers. The RFT usually requests information required from a RFI. This
will usually cover not only product and service offerings, but will also
include information about the suitability of the business.
An RFT advertises the opportunities likely to be available to suppliers. In
certain countries, it is required that every business opportunity be
advertised through an RFT. In the European Union (EU), for example, any
business transaction that exceeds 200,000 US dollars (USD) is required to
have an RFT.
The Request for Tender outlines what is required, the contractual
requirements and how you should respond. The Request for Tender is usually
Conditions of Tender
which may include:
- - an explanation of the evaluation criteria to be used to evaluate
- - information on any relevant government policies;
- - closing time, date and place of lodgement;
- - the Conditions for Participation (mandatory requirements);
- - the point in the purchasing cycle when a debriefing interview will
- - guidance on the formal purchasing complaint process.
A specification that
describes the product, service or works required. The specification should
be clear, accurate and complete.
Conditions of Contract