1. Different RFX templates definition


Sealed Bid - Bids are visible only to the Buyer, who chooses the winner manually. Sealed Bids are typically used in a “First Bid; Best Bid” fashion, commonly used in tendering.
Reverse Auction - Sellers compete to provide a good or service by offering progressively lower quotes (bids) until no supplier is willing to make a lower bid.
Request for Information - Collect written information about the capabilities of various suppliers and pre-screening suppliers.  It is optional to collect preliminary price information.
Negotiation - Bidders can revise the bid higher or lower during the negotiation period. It is useful for RFX Owner to further negotiate one-on-one with bidder.

 Forward Auction - Increasing price auction where RFX Owner selects the winner based on highest bid and other pre-determined criteria.




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