What Does IFB Stand For?
IFB stands for Invitation For Bid
IFB, or Invitation For Bid, is a formal procurement document issued by an organization to solicit competitive bids from potential contractors or suppliers. It outlines the specifications, terms, and conditions for a specific project or purchase, ensuring transparency and fairness in the bidding process. The IFB serves as a key tool for organizations to evaluate proposals and select a qualified vendor based on price and compliance with project requirements.
Added on 14th April 2008 | Last edited on 16th June 2025 | Edit Acronym