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What is the difference between the quotation and the bid?

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Question ajoutée par SHERAZ KHAN , Senior Contracts Administrator , Nesma & Partners Contracting Company
Date de publication: 2014/01/17
Muhammad Rizwan
par Muhammad Rizwan , Executive Procurement (Technical) , FFCL

Quotation is offer furnished by vendor when requirements / specifications / scope is clearly defined/known in Request for Quotation (RFQ).

Bid is offer provided by a company when Request for Proposal (RFP) does not contain clear scope or the requirements are not clearly defined. 

Nini Thomas
par Nini Thomas , SAP Middle East and North Africa LLC

The main differentiation is Quotation is just an estimate , where as a bid will have the service details, duration and the financials too, this quotation forms a part of a bid..

Typically when the clients asks say one vendor for some specific work, which is imited in scope or you have done it earlier it can be a quotation

When you want multiple options and choose the best in terms of solution and price a bid is requested by the client

Mohamed Basem Hemedh
par Mohamed Basem Hemedh , Siren Projects Eastern Region Manager , Nextel Millennium Telecom Manager

Good Morning.

 

Quotation is part of bid/proposal & it covers part of the services/prices you want to offer to your customer.

Bid is a complete services with prices need to be offered to the customers.

 

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