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Acronyms that contain the term invitation for bid 

What does invitation for bid mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: invitation for bid.

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Definition

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ITB

Invitation To Bid

Business » General Business

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IFB

Invitation For Bid

Governmental » Military

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IFB

Invitation For Bid

Governmental » US Government

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IFB

Invitation For Bid

Academic & Science » Ocean Science

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ITT

Invitation To Tender

Governmental » US Government

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ITT

Invitation To Tender

Business » General Business

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MB

Minimum Bid

Business » General Business

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B&P

Bid and Proposal

Governmental » Military

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NIT

National Invitation Tournament

Miscellaneous » Unclassified

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CB

Current Bid

Business » Stock Exchange

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RFB

Request For Bid

Governmental » US Government

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LIBID

London Interbank BID rate

Business » Banking

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BIO

By Invitation Only

Internet » Chat

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TOB

Take Over Bid

Business » General Business

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SB

Specified Bid

Governmental » US Government

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BBO

Best Bid Offer

Governmental » US Government

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LIBID

London Inter-Bank Bid Rate

Business » International Business

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CB

Counter Bid

Business » Stock Exchange

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BIO

By Invitation Only

Computing » Texting

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IFT

Invitation For Tender

Governmental » NASA

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IFT

Invitation For Tender

Governmental » Military

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IFT

Invitation For Tender

Governmental » US Government

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IFT

Invitation For Tender

Business » General Business

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ITT

Invitation To Transmit

Computing » Networking

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BBO

Best Bid/Best Offer

Business » General Business

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What does invitation for bid mean?

Invitation for bid
An invitation for bid or invitation to bid is an invitation to contractors or equipment suppliers, through a bidding process, to submit a proposal on a specific project to be realized or product or service to be furnished. IFB is generally the same thing as Request for Quotation. The IFB or RFQ is focused on pricing, and not on ideas or concepts. If not stated otherwise, the contractor or supplier with the lowest bid is awarded the contract, provided that they meet the minimum criteria for the bid. This is in contrast to a request for proposal, in which case other reasons might cause or allow choice of the second best offer. An RFP is a request for a price from a buyer but the buyer would also expect suggestions and ideas on how the project work should be done. RFPs are thus focused on more than just pricing/cost, they entail a bit of consulting from the contractor or vendor.

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