SVRQ (Standard Vendor Responsibility Questionnaire)
The Standard Vendor Responsibility Questionnaire (SVRQ) is a tool used in procurement to assess the suitability and readiness of vendors prior to awarding contracts. The SVRQs allow buyers to fairly evaluate potential vendors on important categories such as work experience, financial history, insurance coverage, and references. This ensures that only vendors who meet the standards of responsibility are selected for contracts, allowing organizations to make informed decisions for their business needs.