Request for Standing Offer (RFSO) definition

Request for Standing Offer (RFSO) means an invitation for providers of a product or service to bid on the right to supply that product or service by way of a standing offer. A standing offer is an offer from a supplier to provide well-defined, readily available goods or services, as and when requested, at prearranged prices or on a prearranged pricing basis, which can be established at the outset, under set terms and conditions, and for a specific period of time.
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Request for Standing Offer (RFSO) means a process used to solicit standing offers to provide goods and services on an as-and-when required basis, at firm prices, as per established terms and conditions. It must clearly state the requirement, the evaluation method and selection criteria, the call- up procedures, the ranking methodologies, whenever applicable, to be used for making call-ups against the authorized standing offer(s), and all terms and conditions applicable to the contract that is brought into effect, as a result of any call-up.
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Examples of Request for Standing Offer (RFSO) in a sentence

  • Bidders must be compliant with the requirements of this Request for Standing Offer (RFSO), as indicated in Part III, Bid Selection Process.

  • Note to Offerors: The following certification requirements apply to this Request for Standing Offer (RFSO).

Related to Request for Standing Offer (RFSO)

  • Request for Purchase shall have the meaning specified in paragraph 2B(3).

  • Request for Advance means a Request for Revolving Credit Advance or a Request for Swing Line Advance, as the context may indicate or otherwise require.

  • Request for Tender means the Request for Tender given to prospective tenderers inviting offers to tender for the supply of the Goods and Services of which these General Conditions of Contract form part.

  • Request for Tender (RFT) means the document(s) containing or referring to the Conditions of Tendering and Contract, the Annexure, Special Conditions of Contract (if any), Northern Territory Procurement Code, Scope of Services, Response Schedules, Drawings or Diagrams (if any) and any other document issued for the purposes of inviting tenders for the Services.

  • Request for Loan means a written request for a Loan substantially in the form of Exhibit E, signed by a Senior Officer of the applicable Borrower and properly completed to provide all information required to be included therein.