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Request for Quotes

Once you publish a request for quote, the vendor will receive an invite. They can submit bids for the requested items by acknowledging the invite and confirming their participation in the request for a quote.

Acknowledge Invitation

Acknowledgement is the act of a vendor confirming receipt of a request for quote from you. This step assures you that the vendor is aware of the request and establishes clear communication between both parties.

If you have made vendor acknowledgement mandatory to participate in the request for quote, the vendor must provide that acknowledgement. Here is how:

  • Log in to the vendor portal.
  • Click Request for Quotes on the left sidebar.
  • Select the request for quote that has to be acknowledged and click Acknowledge.

Note: If you have not made vendor acknowledgement mandatory, the vendor’s invite status for the request for quote will, by default, be Acknowledged.

Confirm Participation

Confirmation of participation is when vendors show that they plan to submit bids, indicating their commitment to you. This helps you organize the procurement process and set clear expectations.

Here is how vendors can confirm their participation in a request for quote:

  • Log in to the vendor portal.
  • Click Request for Quotes on the left sidebar.
  • Select the request for quote for which they are going to confirm participation.
  • If they want to participate, check I have read the terms and conditions specified, and I agree to participate in the request for quote and click Participate.
  • If they do not want to participate, click Decline and click Proceed in the pop-up that appears.

The vendor’s invite status will be updated accordingly, and you will be notified of their action.

Create a Bid

A bid is a formal offer made by a vendor to provide goods, services, or complete a project at a specified price. Bids are submitted in response to the request for quotes issued by you. The bid outlines the terms, conditions, and pricing for the proposed work, and it may include details such as timelines, qualifications, and any other relevant information. You evaluate the bids received and select the one that best meets your needs and requirements.

Once the bidding period for the request for quotes starts, vendors can create bids and submit them to you. To create a bid:

  • Log in to the vendor portal.
  • Click Request for Quotes on the left sidebar.
  • Select the request for quote for which they want to create a bid.
  • Click Create Bid.
  • Enter the Bid Quantity, Item Price per Quantity, Shipping Charges, Additional Charges, Delivery Date, and Notes for the items they can provide to you.
  • Click Upload Document and select the required files.
  • Click Save.

Submit a Bid

Once a vendor has created a bid, they need to submit it to you for your review. The vendor must submit the bid before the bidding period ends. To submit a bid:

  • Log in to the vendor portal.
  • Click Request for Quotes on the left sidebar.
  • Select the bid they want to submit.
  • Click Preview and Submit.
  • Verify the bid details on the Edit Bid page and click Submit.
  • Click Submit Bid in the pop-up that appears.

The bid will be sent to you.

Edit a Bid

Vendors can edit a bid before submitting it to you. Here is how:

  • Log in to the vendor portal.
  • Click Request for Quotes on the left sidebar.
  • Select the bid they want to edit.
  • Click Preview and Submit.
  • Make the necessary changes and click Save.

Create Additional Bids

If you have enabled the preference for vendors to send multiple bids for request for quotes, vendors can send multiple bids until the bidding period ends. However, the vendor’s latest bid will be considered as the final bid.

To send additional bids:

  • Log in to the vendor portal.
  • Click Request for Quotes on the left sidebar.
  • Select the request for quote for which they submitted a bid.
  • Click Create Another Bid.
  • Enter the Bid Quantity, Item Price per Quantity, Shipping Charges, Additional Charges, Delivery Date, and Notes for the items they can provide to you.
  • Click Upload Document and select the required files.
  • Click Save.

View Bids

If you have not allowed multiple bid submissions for request for quotes, vendors can view the bid they submitted. Here is how:

  • Log in to the vendor portal.
  • Click Request for Quotes on the left sidebar.
  • Select the request for quote for which they submitted a bid.
  • Click View Bid.

If you have allowed multiple bid submissions for request for quotes, vendors can view the latest bids and the previously submitted bids. Here is how:

  • Log in to the vendor portal.
  • Click Request for Quotes on the left sidebar.
  • Select the request for quote for which they submitted bids.
  • Click View Bid to view the recently submitted bid.
  • Click View Previous Bids to view the previously submitted bids.
  • Click Preview and Submit to view the latest bid created.
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