PHASE 1 - NDA(non-disclosure agreement) & RFQ(Request for Quote)
Estimated Time: 1 week
Available as a stand alone service? Yes
Deliverables:
1. Signing an non-disclosure agreement (NDA)
2. Creation of RFQ (Request for Quote) Document
Phase 1 Overview
Phase 1 starts with the signing of a non-disclosure agreement (NDA).
A non-disclosure agreement (NDA) (often known outside of the United States as a confidentiality agreement; occasionally called a confidential disclosure agreement or CDA, or secrecy agreement), is a legal contract between at least two parties that outlines confidential materials or knowledge the parties wish to share with one another for certain purposes, but wish to restrict access to. It is a contract through which the parties agree not to disclose information covered by the agreement. An NDA creates a confidential relationship between the parties to protect any type of confidential and proprietary information or a trade secret. As such, an NDA protects non-public business information.
NDA's are commonly signed when two companies or individuals are considering doing business and need to understand the processes used in each others business for the purpose of evaluating the potential business relationship. NDA's can be "mutual", meaning both parties are restricted in their use of the materials provided, or they can restrict the use of material by a single party.
The next step in Phase 1 is the creation of an RFQ (Request for Quote) Document.
An RFQ is created for the purpose of qualifying prospective suppliers as well as a pre-build promotional tool. The document can be hosted as a private web page on Kraft Global's servers for the duration of the project at the client's request.
A Request for Quotation (RFQ) is a standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products and/or services. An RFQ typically involves more than the price per item. Information like payment terms, quality level per item or contract length are possible to be requested during the bidding process. To receive correct quotes, RFQ's often include the specifications of the items/services to make sure all the suppliers are bidding on the same item/service. Logically, the more detailed the specifications, the more accurate the quote will be and comparable to the other suppliers. The suppliers have to return the bidding by a set date and time to be considered for an award. Discussions may be held on the bids (often to clarify technical capabilities or to note errors in a proposal). The bid does not have to mean the end of the bidding. Multiple rounds can follow or even a Reverse auction can follow to generate the best market price. An RFQ allows different contractors to provide a quotation, among which the best will be selected.