Definition, Meaning & Synonyms

rfb

noun

/ɑːr ɛf biː/

Definition

RFB is an acronym that stands for ‘Request for Bid.’ It is a formal invitation to suppliers or contractors to submit a bid for a project or service.

Examples

The company issued an RFB to find the best contractor for the renovation project.
After receiving several RFBs, the procurement team selected the most favorable bid.

Meaning

The term RFB indicates a structured approach to acquiring goods or services, where the buyer is seeking competitive pricing and detailed proposals from various vendors.