An expression of interest [EOI] is a formal notice to potential suppliers that a prospective buyer is planning to acquire goods or services and inviting interested suppliers to register their interest. It can be used as a tool to assess the level of competition in the supply market, and is usually part of a multistage procurement process. The first stage involves alerting potential suppliers to the forthcoming acquisition, and shortlisting respondents if there is an adequate response. The next stage involves the invitation of competitive offers from the short-listed respondents. Expressions of interest may be used for novel acquisitions or when the buyer wishes to stimulate competition where a supply market may not currently exist. See also Market Maker.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
