Event types
With Fairmarkit, buyers will send you event invitations, asking you for information or pricing on goods and services they need to purchase. Events include requests for information, requests for proposal, requests for quote, and reverse auctions. Additionally, buyers can share events on the Marketplace, and you can respond if you can source their needs.
Event types
Request for information (RFI)
Buyers submit a request for information (RFI) to gather information, not specific pricing, from potential suppliers for a project. Buyers typically submit a request for information event before creating a request for proposal event to obtain initial details for a project. The event contains questions, allowing you to outline your available goods and services and provide details in line with the buyer's project.
Request for proposal (RFP)
Buyers submit a request for proposal (RFP) to request binding pricing and validate capabilities and approach from you for a project. The event contains questions, allowing you to outline your available goods and services and provide pricing and details in line with the buyer's project.
Request for quote (RFQ)
Buyers submit a request for quote (RFQ) to obtain pricing and availability for clearly defined goods and services. The event contains lines, allowing you to provide pricing, availability, and delivery information.
Auctions
Auctions allow you to compete for business by submitting bids in real time. The auction format determines how prices change throughout the event. Depending on the type, prices may increase, decrease, or stay flexible as you and other participants place bids.
Each auction includes line items where you’ll provide pricing, availability, and delivery details. Auctions allow you to submit multiple bids or accept auction prices during the event to stay competitive. You can manage and respond to auction events from the RFQ events list.
Last updated
Was this helpful?