As part of our Basics Series, we thought that it would be useful to introduce some commonly used terminology and explain what it means.
What is a PIN?
A PIN is a prior information notice. It is not a tender but may give information on a future procurement process. It will outline the contracting authority’s purchasing intentions.
What is a Contract Notice ?
A Contract Notice is a document that informs potential bidders or tenderers that the opportunity is now live and that they can request documents and make a submission. The contract notice will usually contain information on the scope of the contract, geography, the type of procurement process, value and length of contract as well as the deadline date.
What is an EOI?
An EOI is an expression of interest and is often used in a multi-stage procurement process. It is used by a contracting authority to create a shortlist of potential suppliers.
What is an RFQ?
An RFQ is a request for quotation and will be used by the contracting authority to obtain the best possible price for a services, goods or works.
What is a PQQ?
A PQQ is a pre-qualification questionnaire and is used to gather basic information on the bidder and can be used in the scoring (depending on how the procedure is established). PQQ’s usually ask for financial, legal and insurance information along with any relevant experience, case studies, quality, environment and sustainability, business continuity and equality and diversity.
What is an ITT?
An ITT is an invitation to tender and is used to distinguish bidders from one another in the process. Each bidder will submit a unique ITT in response to the specification.
What is a Contract Award Notice?
The Contract Award Notice is a public notification announcing the outcome of the procurement opportunity.
If you have any specific questions or would like to know what a particular term or acronym means that hasn’t been covered here then please do get in touch at email@example.com