Understanding the procurement lingo is a career. Acronyms and terms that make no sense however, understanding them is the first step to navigate the government and corporate contracting maze.
Bid: A quotation received from a vendor in response to a solicitationCCR: Central Contractor Registration
CFR: Code of Federal Regulations
CSTAT: Contract Status Timing and Tracking
DACA: Days After Contract Award. This is generally used in scheduling to refer to due dates for various stages of the project
DUNS: Data Universal Numbering System. The DUNS Number is an important “identifier”, used for a multitude of purposes by both the Public and the Private Sector in the contracting arena. To obtain the “DUNS Number” contact Dun & Bradstreet (D&B) at 1-866-705-5711 or http://www.dnb.com
EOI: Expression Of Interest. In some cases a proposal is selected, but the firm withdraw the contract for any reason, and a second procurement process need to be implemented, so the Buyer Agent know by EOI of the potential interest of your company. In case you learn of a BID request very close to the deadline, or after the deadline, you could open a door for further communication with a EOI.
FAR: Federal Acquisition Regulation
FSC: Federal Supply Classification Code.
IFB: Information for Bid or Invitation For Bids. Generally used when the government is soliciting bids for goods or services that is simple to describe and quantify.
LOI: Letter of Intent. Is the letter send by the buyer when a proposal is selected.
M/WBE: Minority and Women
NAICS: North American Industry Classification System. Set of codes developed as the standard for use by Federal statistical agencies in classifying business establishments for the collection, analysis, and publication of statistical data related to the business economy of the U.S.
P-Card: Procurement Card
PTAC: Procurement Technology Assistance Center.
RFA: Request For Applications
RFC: Request For Comment
RFD: Request For Documentation
RFI: Request For Information. A process used to solicit information and aid in decision making. The RFI will not result in a contract, but is intended to gather information for future decision making.
RFIQ: Request for Interest and Qualifications
RFO: Request For Offer
RFP: Request for Proposal. A written competitive solicitation process where price and specification are not the only consideration in determining award criteria. This solicitation process is intended to result in a contract.
RFQ: Request for Qualification or Request for Quotation. A written document describing the Agencies qualification requirements of Contractors and the type of services desired. The RFQ will not result in a contract but is intended to establish a list of pre-qualified Contractors allowed to submit proposals on a future RFP.
RFQ: Request for quotation / RFP–request for proposal Opportunities used to be available to review as a public information.
RFT: Request For Tender. Equivalent on the private sector to RFP
ROI: Registration Of Interest
Supplier Registration or Vendor Registration:
Each agency or company have their own database. In some occasion additional documents are request, as IRS W-9 Forms, Copy of Certification, etc. A vendor number is assigned in most of the occasion.
Vendor: An organization, company, or person submitting a bid or proposal in response to a solicitation for goods and/or services.
VIS: Vendor Information System. Some institutions has a web-base vendor management system with e-procurement capabilities, as the Port of Houston, Port of San Antonio and Metro (Houston).