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The Language of Bids and Tenders

Commonly used abbreviations, acronyms and shortened terms

The procurement industry has a lot of special terms and acronyms; here’s a rewrite of popular, but sometimes unwelcome jargon.

Accelerated

In procurement, an “Accelerated Procedure” refers to a sped-up process used in urgent situations, involving shortened timescales for stages like bid submissions and evaluations.

CAM 

In procurement, a “CAM” or “Commercial Agreement Manager” oversees the development, implementation, and management of commercial contracts, ensuring that agreements are beneficial, compliant, and align with strategic objectives.

CCS

The “CCS” or “Crown Commercial Service” is a UK government executive agency responsible for improving government commercial and procurement activity. It provides centralized procurement frameworks for public sector organizations, ensuring value for money and compliance with procurement regulations.

 

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    DPS

    A “DPS” or “Dynamic Purchasing System” is a procurement tool used in the public sector. It’s an electronic system for making purchases, open throughout its duration for any supplier to join, offering more flexibility than traditional frameworks. Unlike fixed-term frameworks, suppliers can join at any time.

    EOI

    An “EOI” or “Expression of Interest” is a formal declaration by potential suppliers, indicating their interest in a procurement opportunity. It’s often an initial stage in tendering processes, allowing entities to gauge the market’s interest or capabilities before issuing detailed procurement documents.
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    IFB or ITB

    The  terms “IFB” for “Invitation for Bid” and ITB for “Invitation to Bid” alike refer to a formal document issued by a procurement entity inviting suppliers or contractors to submit a proposal on a specific product or service. It provides detailed specifications and requirements, ensuring bidders present their offers based on consistent information for evaluation.

    ITT

    An “ITT” or “Invitation to Tender” is a formal invitation issued by an organisation, asking suppliers to submit detailed proposals or bids for a specified product or service. It outlines the procurement details, terms, conditions, and criteria against which bids will be evaluated.

    MEAT

    “Most Economically Advantageous Tender” is a procurement criterion that allows contracting authorities to select the offer that provides the best value for money. It takes into account both price and qualitative factors (e.g., technical merit, functional fit) when evaluating tenders.

    OJEU

    The OJEU or “Official Journal of the European Union” is the publication in which all tenders from the public sector valued above certain financial thresholds according to EU regulations must be published. It’s a mechanism to ensure transparency and fair competition within the EU’s internal market.

    Open

    An “Open Procedure” in procurement is a method where any interested supplier may submit a tender. There are no restrictions on participation, and it’s one of the most transparent and inclusive methods of procurement.

    PESTLE

    “Political, Economic, Social, Technological, Legal and Environmental” factors. PESTLE is an analytical tool used to identify and evaluate the external macro-environmental factors that might affect an organisation. It aids in strategic decision-making by providing insights into potential opportunities and threats.

    PQQ

    A “Pre-qualification-questionnaire” is a screening step used in the procurement process. It’s a questionnaire sent to potential suppliers to determine their suitability and capability to deliver a contract. It assesses factors like financial stability, experience, and references before inviting them to tender.

    RFP

    An RFP or a “Request for Proposal” is a formal document that invites suppliers to submit detailed proposals for a specific product or service. It typically includes a description of the project, requirements, criteria for evaluation, and other pertinent information, allowing suppliers to present comprehensive offers.

    RFQ

    A “Request for Quote” is a standard business process used to invite suppliers into a bidding process to bid on specific products or services. RFQ generally means the same thing as IFB (Invitation For Bid).

    RFT

    A “Request for Tender” This is a formal, structured invitation to suppliers to submit a bid to supply products or services. Tenders are typically used for the procurement of large quantities of goods or services.

    Restricted

    In the context of procurement, a “Restricted Procedure” is one where only those suppliers invited by the procuring entity can submit a tender for a contract. It is usually a two-stage process: the first stage is to select which suppliers will be invited to tender, and the second stage is the tender itself.

    SME

    “Small to Medium Enterprise” refers to a business whose personnel numbers fall below certain limits. The exact definition can vary among countries. SMEs are typically viewed as more agile and flexible than larger enterprises but might not have the same resources or economies of scale.

    SQ, SQQ or SSQ

    “Standard Selection Questionnaire” in procurement, this often refers to a questionnaire that is used to assess the capability of a potential supplier. It ensures that they have the necessary experience, financial strength, and other relevant attributes to deliver the required goods or services.

    VCSEs

    “Voluntary, Community and Social Enterprises” are organizations that operate in the non-profit sector and have social, charitable, or community-based objectives. They may include charities, non-profits, social enterprises, and other groups that work for the betterment of society and don’t operate for private profit.

    WPS

    “Wider Public Sector” refers to the range of organizations that operate within the public domain but are not central government departments or agencies. This can include local authorities, health services, education institutions, and other publicly funded bodies.

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