A Clarification Log is a formal, auditable document that records all inquiries made by prospective bidders and the corresponding official responses provided by the issuing entity during a procurement cycle, such as a Request for Quotation (RFQ) in the crypto space. This log functions to resolve ambiguities in solicitation documents.
Mechanism
The log maintains a chronological and categorized account of all questions seeking additional detail or explanation regarding the terms, technical specifications, or operational requirements of a crypto-related transaction or service. Responses are disseminated uniformly to all participants, ensuring equal access to information. This structured exchange removes misunderstandings before proposal submission.
Methodology
Maintaining a comprehensive clarification log ensures fairness, promotes transparency, and establishes a clear audit trail for compliance and governance, which is critical in institutional digital asset operations. This methodology mitigates potential disputes, supports informed decision-making by all parties, and aids in the objective evaluation of proposals based on consistent understanding of requirements.
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