Definition
IFB Invitation for Bid - sealed bidding where lowest price wins.
Definition
An Invitation for Bid (IFB) is a solicitation type using sealed bidding procedures. Award goes to the lowest priced responsive, responsible bidder. There are no negotiations or discussions - you submit your best price upfront. IFBs are used when requirements are clear and price is the primary factor.
Official Source
FAR Part 14
