Most Common Sales Documents
Request for Information (RFI)
- Purpose: To gather general information about the capabilities of various suppliers or vendors.
- Usage: Typically used in the early stages of the procurement process to shortlist potential vendors.
Request for Proposal (RFP)
- Purpose: To solicit detailed proposals from vendors outlining how they would meet the project's requirements.
- Usage: Used to evaluate and compare different vendors based on their proposed solutions, pricing, and terms.
Request for Quotation (RFQ)
- Purpose: To obtain detailed pricing information for specific products or services.
- Usage: Often used when the requirements are well-defined and the primary consideration is cost.
Offer or Proposal
- Purpose: A formal document submitted by a vendor in response to an RFP or RFQ, detailing their proposed solution, pricing, and terms.
- Usage: Used by the buyer to evaluate and select the best vendor based on the proposals received.
Non-Disclosure Agreement (NDA)
- Purpose: To protect confidential information shared between parties during the negotiation process.
- Usage: Ensures that sensitive information is not disclosed to unauthorized parties.
Contract or Agreement
- Purpose: A legally binding document that outlines the terms and conditions agreed upon by both parties.
- Usage: Finalizes the deal and sets the framework for the delivery of goods or services.
Statement of Work (SOW)
- Purpose: To define the scope of work, deliverables, timelines, and responsibilities of both parties.
- Usage: Provides a clear roadmap for project execution and helps manage expectations.
Purchase Order (PO)
- Purpose: A formal document issued by the buyer to the vendor, authorizing the purchase of goods or services.
- Usage: Serves as a legal offer to buy and initiates the procurement process.
Invoice
- Purpose: A document issued by the vendor requesting payment for goods or services delivered.
- Usage: Used to process payments and maintain financial records.