YOU ARE HERE: HOMEAll about Request For Inquiry (RFI), Quotation (RFQ), Proposal (RFP), Invited To Bid (ITB)

All about Request For Inquiry (RFI), Quotation (RFQ), Proposal (RFP), Invited To Bid (ITB)

E-SPIN in the business-to-business (B2B) business model. Lot of potential prospect and buyer will engage E-SPIN for an inquiry, from request for information (RFI), request for quotation (RFQ), request for proposal (RFP), invitation to bid (ITB), the document complexity is increased as it moves toward tender bid.

Be noted that every offer and inquiry, if we make, will not be static forever, the supplier price will rise, supplier terms of supplier will change, technology and product will change, and manpower related component pricing will change. It will be also in the business context, some of the price elements can not be agreed upon, if that is the scenario and context, the E-SPIN standard process is to issue cancellation for the quote, proposal, bid for that particular business opportunity potential prospect or buyer shares with us. Let engaged again in the near future when the time is right for future business opportunity and need rises again.

Please keep in mind a quote is just a quote. It is not a firm offer and a company can not use an RFQ as a contract or formal agreement. Once you extend an offer and we accept, then you create the final contract, usually in the form of purchase order (PO), signed back our order confirmation, or issue letter of award (LoA), the term typically used in the tender bid.

For typical cases that are specific or quantifiable, the RFQ process is commonly used by our customer, typically led by the procurement and supply department and officers. Depending on the scenario and context, we can not accept all the invitations for RFI, RFQ, RFP, ITB, if we upon quick assessment we do not offer value added or we found a strategic fit for the business case. This is why, if you found E-SPIN does not respond to open bid,  sealed bid, invited or reverse auction, we hope you understand that as being a commercial organisation, we need to filter and invest our time in the best and likelihood case only. If you found subsequent engagement, we are no really response to your RFI, RFQ, RFP, ITB, it is most likely due to upon a reasonable effort we have try to involved in your engagement, but somehow the return for the time and effort do not bring in reasonable return, so we are sorry and hope you understand as being commercial organisation, we need to make sure our business time and resources invest in the business case and activity that will bring in return. If in the future you have a solid case and we can help, feel free to engage us again in the near future.

E-SPIN will not blacklist prospects or customers for never doing business in the future, sometime, or one or two cases we do not do business, does not mean we will not continue to serve you in the near future. Sometimes due to different personnel making different decisions. But as companies from time to time will change officers, and different officers will make a different decision, we always have the opportunity to do business with everyone someday somehow.