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<br />vendor <br /> <br />Proposal <br /> <br />The executed document submitted by a <br />bidder in response to a Request for <br />Proposal. <br /> <br />Purchase Order <br /> <br />A purchaser's documentation to formalize a <br />purchase transaction with a vendor <br />Acceptance of a Purchase Order constitutes <br />a contract. <br /> <br />Quotation <br /> <br />A statement of price, tenns of sale, and <br />description of goods or services offered by <br />a prospective seller to a prospective <br />purchaser, usually for purchases below the <br />amount requiring fomlal bidding. <br /> <br />Request for Quotation <br /> <br />The document used for any purchase that <br />required competitive seal bidding. <br /> <br />Responsible Bidder <br /> <br />A person who has the capability in all <br />respects to perform in full the contract <br />requirements, and the integrity and <br />reliability which will assure good faith <br />performance. <br /> <br />Sealed Bid <br /> <br />A bid which has been submitted in a sealed <br />envelope to prevent its contents form being <br />revealed or known before the deadline for <br />the submission for all bids; usually required <br />on major procurement to enhance fair <br />competition. <br /> <br />Sole Source <br /> <br />An award for a commodity or service to the <br />only known capable supplier due to the <br />unique nature of the requirement, the <br />supplier, or market conditions. <br />