What do you mean ny RFT term?

Business & Management
#1

Request for Tender (RFT) is a formal process where suppliers or service providers are invited to submit a bid for the procurement of an item, commodity or service.Request for tender refers to the open invitation that is sent to the suppliers to respond to a defined need and not a request that is sent to potential suppliers. This is a holistic document that does not only include information about products or/and services, but also the business.