Solicitation

In procurement, the term “solicitation” can refer to a number of different methods with which a buyer can initiate a competitive bidding process between multiple suppliers. On Tradogram, flexible request forms can be used to initiate a solicitation process. These forms are ideal for creating requests for quotation (abbreviated RFQ, also referred to as an invitation to Quote or ITQ), requests for proposal (RFP), requests for information (RFI), and concluding each process with an awarded contract or purchase order to one or more suppliers.