What is the difference between RFQ, RFP, and RFB?

These three acronyms describe different procurement methods:

• RFQ — Request for Quotation. Used for low-value, off-the-shelf goods or services below the written-quotation threshold. Simple price comparison.
• RFB — Request for Bid. Standard open competitive tender above the quotation threshold. Evaluated on 80/20 or 90/10 price + BBBEE.
• RFP — Request for Proposal. Used when the approach matters as much as the price — consulting, professional services, bespoke solutions. Evaluated on functionality (often 60–70% of the score) plus price + BBBEE.

You might also see RFI (Request for Information) — an information-gathering exercise that does not lead to an award. Many procurements use an RFI before an RFP to shortlist vendors.