Formal Bids

Formal Bids (RFP/IFB)

What is Formal Bidding?  Commodity purchases, leases or services which exceed $75,000.  Formal Bids are processed by Request for Proposal (RFP) or Invitation For Bid (IFB).  All formal bids should include a Strategic Sourcing component.

Average Process Time?  Formal bids must be developed, advertised, the responses evaluated, and the bid awarded.

• RFP - three (3) to twelve (12) months
• IFB - one (1) to two (2) months

Department Planning.  Departments should allow time for the above procedures when anticipating their purchasing needs. It's never too early to work with Procurement on your Sourcing strategy.  

Strategic Sourcing

What is Strategic Sourcing?  Adding strategy to your purchase. 

What are the benefits to you?  Savings in money, time, and resources. 

Want to Learn More?  To learn more contact your Procurement Coordinator.

Ready to place a FORMAL BID? 

Click Here to Complete the First Step

Helpful Resources.  Here are some documents that will provide guidance through the formal bid process: 

• RFP/IFB Procurement Lead Time
• RFP-To-Contract Award Discovery Project Charter
• RFP Discovery Checklist
• RFP Sample  
• IFB Sample

Helpful Links

Cooperative Contracts

State Contracts

Services Contracts (PCS/TGS)

Minority and Women-Owned Business Resources (MWOB)

 

Contact Us

Procurement Services
Fayetteville, Arkansas 72703