ITB (Invitation To Bid)
The Invitation To Bid (ITB) is the official document used in procurement that initiates a formal bidding process for goods and services. The ITB contains all necessary information including an overview of the products or services to be procured, the minimum requirements for the request, any special instructions or clauses that must be followed by prospective suppliers, and the timeline and timeline for submitting bids. It also details the evaluation criteria that will be used to assess the bids and select the winning supplier. The ITB sets out the rules and procedures for the entire bidding process, ensuring transparency and fairness for all participants.
