# What Is the "Contract A" and "Contract B" Scenario and How Does It Impact RFP Liability? ▴ Question

**Published:** 2025-08-09
**Categories:** Question

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## Concept

The procurement landscape is often perceived as a linear progression ▴ an organization issues a Request for Proposal (RFP), bidders respond, and a contract is awarded. This perception, however, overlooks a critical legal architecture that operates beneath the surface, a framework established by the Canadian judiciary that transforms the very act of bidding into a binding legal relationship. This system, known as the “[Contract A](https://prime.greeks.live/area/contract-a/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite)” and “[Contract B](https://prime.greeks.live/area/contract-b/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite)” model, fundamentally redefines the duties and liabilities of every participant in a formal competitive bidding process. Understanding this dual-contract structure is foundational for any entity, public or private, seeking to navigate the complexities of procurement with strategic precision and to manage the inherent risks involved.

The genesis of this framework is the landmark 1981 Supreme Court of Canada decision in _R. v. [Ron Engineering](https://prime.greeks.live/area/ron-engineering/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) & Construction (Eastern) Ltd._ Before this ruling, a bid was typically considered a mere offer that could be withdrawn at any time before acceptance. The court, however, introduced a two-contract analysis. The submission of a [compliant bid](https://prime.greeks.live/area/compliant-bid/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) in response to a tender call creates the first of these, “Contract A.” This is not the contract to perform the work; rather, it is a preliminary contract governing the bidding process itself.

Its terms are dictated by the rules, deadlines, and [evaluation criteria](https://prime.greeks.live/question/how-can-an-organization-determine-the-appropriate-weighting-for-evaluation-criteria-in-an-rfp/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) laid out in the RFP or tender documents. The primary obligation for the bidder [under Contract](https://prime.greeks.live/question/what-is-the-difference-between-an-rfps-process-contract-and-the-final-service-contract/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) A is the irrevocability of their bid for a specified period, often secured by a bid deposit.

> The submission of a compliant bid initiates a binding preliminary contract, known as Contract A, which governs the rules of the procurement process itself.

![Abstract geometric forms portray a dark circular digital asset derivative or liquidity pool on a light plane. Sharp lines and a teal surface with a triangular shadow symbolize market microstructure, RFQ protocol execution, and algorithmic trading precision for institutional grade block trades and high-fidelity execution](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-block-execution-microstructure.jpg)

## The Emergence of Two Distinct Legal Obligations

Upon the formation of Contract A with each compliant bidder, the [procuring authority](https://prime.greeks.live/question/what-role-does-a-resolution-authority-play-in-the-valuation-of-derivatives-during-a-bank-failure/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) assumes a set of implied duties. The most significant of these is the [duty of fairness](https://prime.greeks.live/area/duty-of-fairness/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) and good faith toward all participants who have submitted a valid bid. This duty is not a vague ethical guideline; it is a legally enforceable obligation.

It mandates that the authority must evaluate all bids according to the disclosed criteria, reject any non-compliant submissions, and refrain from introducing hidden preferences or biases into the evaluation process. This initial contract effectively establishes a structured, transparent, and equitable competition.

“Contract B” is the more familiar of the two. It is the substantive performance contract for the goods or services being procured. This second contract is formed only when the procuring authority accepts a bid from a compliant tenderer, the successful proponent. The formation of Contract B executes the ultimate goal of the [RFP process](https://prime.greeks.live/area/rfp-process/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), binding the winning bidder to perform the work and the authority to pay for it according to the terms of the bid.

The entire Contract A/Contract B framework, therefore, creates a procedural pathway where the integrity of the competition is protected by one contract, leading to the eventual formation of the final performance agreement. This legal structure ensures that the process is predictable and that all parties have clearly defined rights and responsibilities from the moment a bid is submitted.

![A transparent, multi-faceted component, indicative of an RFQ engine's intricate market microstructure logic, emerges from complex FIX Protocol connectivity. Its sharp edges signify high-fidelity execution and price discovery precision for institutional digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-engine-optimized-for-best-execution.jpg)

![Sleek, modular infrastructure for institutional digital asset derivatives trading. Its intersecting elements symbolize integrated RFQ protocols, facilitating high-fidelity execution and precise price discovery across complex multi-leg spreads](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-system-optimizing-high-fidelity-block-trade-liquidity-and-multi-leg-spread-precision.jpg)

## Strategy

Navigating the Contract A/Contract B environment requires a sophisticated strategic approach from both procuring entities and bidders. For the organization issuing an RFP, the primary goal is to maintain control over the process and mitigate liability while achieving the best possible outcome. For bidders, the objective is to compete on a level playing field where their proposal will be evaluated fairly. The strategic decisions made by each party are dictated by the potent rights and obligations that Contract A automatically imposes.

![A stylized depiction of institutional-grade digital asset derivatives RFQ execution. A central glowing liquidity pool for price discovery is precisely pierced by an algorithmic trading path, symbolizing high-fidelity execution and slippage minimization within market microstructure via a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-high-fidelity-execution-1.jpg)

## The Procurer’s Strategic Imperative Controlling Risk

An organization issuing a tender must operate with the awareness that the moment it releases an RFP with the hallmarks of a binding process, it is no longer merely soliciting offers; it is architecting a legally binding competition. The [implied duties](https://prime.greeks.live/area/implied-duties/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) of Contract A become the strategic constraints within which the organization must operate. Failure to adhere to these duties constitutes a breach of Contract A, exposing the organization to significant legal and financial risk from unsuccessful bidders. 

The core strategic considerations for a procuring authority revolve around fairness, transparency, and compliance. The duty to treat all [compliant bidders](https://prime.greeks.live/question/what-are-the-game-theory-implications-of-disclosing-the-number-of-bidders-in-an-rfq/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) fairly and equally is paramount. This means the authority must scrupulously follow its own evaluation criteria as published in the RFP documents. Any deviation, such as applying undisclosed preferences or changing the rules mid-process, can trigger a breach.

A key strategic decision, therefore, is the careful and precise drafting of the RFP itself. The document must clearly articulate all mandatory requirements, evaluation metrics, and their relative weightings to create a defensible evaluation framework.

![Brushed metallic and colored modular components represent an institutional-grade Prime RFQ facilitating RFQ protocols for digital asset derivatives. The precise engineering signifies high-fidelity execution, atomic settlement, and capital efficiency within a sophisticated market microstructure for multi-leg spread trading](https://options.greeks.live/wp-content/uploads/2025/08/institutional-grade-digital-asset-derivatives-rfq-protocol-high-fidelity-execution-system.jpg)

## Key Implied Duties of the Procuring Authority under Contract A

The following table outlines the principal duties a procuring authority must strategically manage upon the formation of Contract A.

| Implied Duty | Strategic Implication and Required Action |
| --- | --- |
| Duty of Fairness and Good Faith | The authority must conduct the process without bias or hidden preferences. All bidders must be treated equally, with equal access to information. Strategically, this requires establishing a clear communication protocol and a standardized evaluation process applied uniformly to all bids. |
| Duty to Disclose | All material information that could affect a bid’s price or a bidder’s decision to participate must be disclosed. This includes all evaluation criteria and their weightings. The RFP must be a complete and transparent playbook for the competition. |
| Duty to Reject Non-Compliant Bids | The authority is obligated to disqualify any bid that fails to meet the material requirements set out in the RFP. Accepting a non-compliant bid is a breach of the duty of fairness owed to all other compliant bidders. This requires a rigorous and documented compliance check before substantive evaluation begins. |
| Duty to Award Contract B as Tendered | The performance contract (Contract B) awarded must be substantially the same as the one outlined in the tender documents. Significant post-award negotiations that alter the nature of the contract are prohibited, as this would be unfair to other bidders who bid on the original terms. |

![Central nexus with radiating arms symbolizes a Principal's sophisticated Execution Management System EMS. Segmented areas depict diverse liquidity pools and dark pools, enabling precise price discovery for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-prime-os-rfq-liquidity-orchestration.jpg)

## The Bidder’s Position Leveraging Rights

For bidders, the existence of Contract A provides a powerful set of rights that level the playing field. The primary right is the assurance of a fair and transparent evaluation based on the stated rules. This allows businesses to invest the significant resources required to prepare a proposal with confidence that they will not be subject to arbitrary or biased decision-making.

A bidder’s strategy involves preparing a meticulously compliant proposal that addresses every mandatory requirement of the RFP. Any deviation risks disqualification, forfeiting all rights under Contract A.

> For bidders, Contract A serves as a shield, ensuring their compliant proposal will be evaluated fairly based on the established rules of the competition.

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## The Non-Binding RFP a Strategic Alternative

The significant liabilities associated with Contract A have led to the strategic evolution of procurement documents. Many organizations now seek to avoid the Contract A/B framework altogether by issuing a Non-Binding Request for Proposals (NRFP). The goal of an NRFP is to solicit proposals as a precursor to negotiation, without creating the binding procedural obligations of Contract A. To achieve this, an NRFP must be carefully drafted to eliminate the hallmarks of a formal tender.

- **Explicit Disclaimers** ▴ The document should contain a clear statement that it is not a tender, that no Contract A will be formed upon submission of a proposal, and that the authority is not bound to award a contract or to adhere to any specific evaluation process. 

- **No Irrevocability** ▴ Proposals should not be irrevocable. Bidders should be free to withdraw their submissions at any time before a final, negotiated contract is signed. 

- **No Bid Security** ▴ The RFP should not require bid bonds or other forms of security, as these are strong indicators of a binding process. 

- **Emphasis on Negotiation** ▴ The process should be framed as an invitation to discuss and negotiate, where the submitted proposal is a starting point rather than a final offer. 

This strategy provides the procuring authority with maximum flexibility, freeing it from the strict duty of fairness and the risk of litigation for breach of Contract A. However, it also presents a different set of strategic trade-offs. Bidders may be less willing to invest in high-quality proposals if the process lacks clear rules and a commitment to fairness. Furthermore, the authority loses the ability to hold bidders to their prices, as proposals are not irrevocable. The choice between a binding RFP and a non-binding NRFP is a critical strategic decision based on an organization’s tolerance for risk versus its need for procedural certainty and price security.

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## Execution

The theoretical framework of Contract A and Contract B translates into tangible financial and legal consequences during the execution of a procurement process. Liability arises directly from a breach of the duties implied in Contract A, and understanding the precise mechanics of how a breach occurs is critical for any organization seeking to design a defensible procurement system. For procuring authorities, execution is about rigorous process control and risk management. For bidders, it is about understanding their recourse when a process has been executed improperly.

![An abstract visual depicts a central intelligent execution hub, symbolizing the core of a Principal's operational framework. Two intersecting planes represent multi-leg spread strategies and cross-asset liquidity pools, enabling private quotation and aggregated inquiry for institutional digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-rfq-protocol-engine-for-institutional-digital-asset-derivatives.jpg)

## The Mechanics of a Breach and Its Consequences

A breach of Contract A occurs when a procuring authority fails to honor its implied duties of fairness and [good faith](https://prime.greeks.live/area/good-faith/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) to the compliant bidders. This is not limited to overt acts of bad faith; it can arise from procedural errors or a failure to adhere to the self-imposed rules of the RFP. For instance, if an authority accepts a bid that is delivered seconds after the deadline, it has breached its duty to the other bidders who met the deadline. Similarly, evaluating a bid based on a “hidden” criterion ▴ a preference that was not disclosed in the RFP documents ▴ is a classic example of a breach. 

The most common and litigated breach involves the acceptance of a non-compliant bid. The law, as clarified in cases like _M.J.B. Enterprises Ltd. v. Defence Construction (1951) Limited_, obligates the owner to accept only compliant tenders. If an authority awards Contract B to a bidder whose submission failed to meet a mandatory requirement, it has violated the rights of all other compliant bidders.

The consequences of such a breach can be severe. A wronged bidder can sue for damages, which are often calculated as the profits they would have earned had they been awarded Contract B ([expectation damages](https://prime.greeks.live/area/expectation-damages/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite)). This potential for substantial financial liability underscores the importance of flawless execution.

> A breach of Contract A, such as accepting a non-compliant bid, can expose a procuring authority to litigation and liability for the lost profits of a wronged bidder.

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## A Framework for Executing a Defensible RFP Process

To mitigate the significant liability risks inherent in the Contract A/B framework, a procuring authority must execute its RFP process with discipline. This involves building a system of controls that ensures every stage of the process aligns with the principles of fairness and transparency.

| Phase of Execution | Risk Factor | Mitigation Protocol |
| --- | --- | --- |
| RFP Drafting | Ambiguous or incomplete mandatory criteria. | Define all mandatory technical and commercial requirements with absolute clarity. Use a checklist format (e.g. “Proponent must. “) and state that failure to meet any mandatory requirement will result in disqualification. |
| RFP Drafting | Unclear evaluation and scoring methodology. | Disclose all evaluation criteria and their precise weightings. If a scoring matrix is used, explain how points are awarded for each criterion to ensure transparency. |
| Bid Receipt | Improper handling of late or non-compliant submissions. | Implement a strict, documented bid receipt process. A designated, time-stamped receiving point is essential. Late bids must be returned unopened. A formal compliance review must be conducted and documented before any bid proceeds to evaluation. |
| Evaluation | Introduction of bias or undisclosed criteria by the evaluation team. | Provide formal training to the evaluation committee on the principles of fairness and the specific criteria in the RFP. Require evaluators to sign non-disclosure and conflict-of-interest declarations. All scoring must be documented with justifications referencing the RFP criteria. |
| Communication | Unequal dissemination of information to bidders. | Establish a single point of contact for all bidder inquiries. All questions and answers must be anonymized and distributed to all bidders simultaneously through a formal addendum to ensure a level playing field. |
| Award and Debriefing | Claims of unfairness from unsuccessful proponents. | Upon awarding Contract B, offer a formal debriefing to all unsuccessful bidders. The debriefing should provide a constructive overview of their proposal’s strengths and weaknesses against the stated evaluation criteria, demonstrating that a fair and rigorous process was followed. |

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## Executing a Non-Binding Process

For organizations choosing to execute a non-binding NRFP, the critical action is to maintain consistency. The process must align with the “invitation to negotiate” framing from start to finish. Communications with proponents should consistently reinforce the non-binding nature of the process. The evaluation can be more flexible, but procedural fairness, while a lower standard than the contractual duty of fairness under Contract A, may still apply to public bodies.

The most important execution element is the inclusion of a well-drafted disclaimer clause, explicitly stating that no contract is formed by the submission of a proposal and that the authority retains sole discretion to negotiate with any party, reject all proposals, and terminate the process at any time. This clause is the central pillar in defending against claims that a binding Contract A was inadvertently created.

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## References

- Blake, Cassels & Graydon LLP. “Section V ▴ Procurement.” _Doing Business in Canada_, 2024.

- Cleary, Patrick. “Legal basics of procurement ▴ Part 2 (Duty of good faith).” _Alexander Holburn Beaudin + Lang LLP_, 11 Oct. 2016.

- Glasgow, Robert A. and Rhea Evans. “A Deep Dive into Canada’s Public Procurement Law – 2 Part Series.” _McCarthy Tétrault_, 9 Dec. 2021.

- Ouda Project Masters Inc. “Contract A and Contract B of construction projects.” _Ouda Project Masters Inc._, 9 Dec. 2023.

- Paton, Paul D. et al. “Public procurement law in Canada ▴ An overview (2020).” _LXM Law_, 14 Oct. 2020.

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## Reflection

![Abstract geometric forms depict a sophisticated RFQ protocol engine. A central mechanism, representing price discovery and atomic settlement, integrates horizontal liquidity streams](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-engine-2.jpg)

## Beyond Procedure a System of Integrity

The Contract A/Contract B framework is more than a set of procedural hurdles; it represents a systemic commitment to the integrity of competitive markets. Viewing this legal doctrine purely through the lens of risk mitigation, while necessary, is incomplete. The duties of fairness and good faith are not simply liabilities to be managed but are the very mechanisms that foster trust and encourage robust participation. An organization that builds its procurement system on a foundation of transparency and equity does not merely avoid litigation; it cultivates a reputation that attracts the highest quality of bidders and proposals.

The ultimate strategic advantage lies in architecting a procurement function that is not only legally defensible but is recognized as a system of integrity. This transforms the RFP process from a simple transactional mechanism into a strategic asset that drives value and reinforces an organization’s standing in the marketplace.

![Intersecting angular structures symbolize dynamic market microstructure, multi-leg spread strategies. Translucent spheres represent institutional liquidity blocks, digital asset derivatives, precisely balanced](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-platform-4.jpg)

## Glossary

<a href="https://prime.greeks.live/area/contract-a/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sophisticated apparatus, potentially a price discovery or volatility surface calibration tool. A blue needle with sphere and clamp symbolizes high-fidelity execution pathways and RFQ protocol integration within a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-rfq-protocol-institutional-digital-asset-derivatives-execution.jpg)

## Contract A

Meaning ▴ Contract A defines a standardized, digitally-native forward agreement for a specific digital asset. </a><a href="https://prime.greeks.live/area/contract-b/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Geometric planes and transparent spheres represent complex market microstructure. A central luminous core signifies efficient price discovery and atomic settlement via RFQ protocol](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-microstructure-4.jpg)

## Contract B

Meaning ▴ Contract B, formally designated as a Dynamic Basis Swap, represents a configurable, principal-to-principal digital asset derivative instrument designed to optimize capital efficiency and manage complex yield or hedging requirements across disparate market structures. </a><a href="https://prime.greeks.live/area/ron-engineering/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A central dark nexus with intersecting data conduits and swirling translucent elements depicts a sophisticated RFQ protocol's intelligence layer. This visualizes dynamic market microstructure, precise price discovery, and high-fidelity execution for institutional digital asset derivatives, optimizing capital efficiency and mitigating counterparty risk](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-engine-visualizing-high-fidelity-execution-and-market-microstructure-dynamics.jpg)

## Ron Engineering

Meaning ▴ Ron Engineering designates a proprietary algorithmic framework for dynamic optimization of execution and risk parameters within institutional digital asset derivatives. </a><a href="https://prime.greeks.live/area/compliant-bid/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sleek, modular institutional grade system with glowing teal conduits represents advanced RFQ protocol pathways. This illustrates high-fidelity execution for digital asset derivatives, facilitating private quotation and efficient liquidity aggregation](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-ecosystem-powering-high-fidelity-rfq-execution-and-optimal-liquidity-discovery.jpg)

## Compliant Bid

Meaning ▴ A Compliant Bid signifies a price quotation or order submission that rigorously adheres to all pre-defined operational, financial, and regulatory parameters established within an institutional trading system. </a><a href="https://prime.greeks.live/question/how-can-an-organization-determine-the-appropriate-weighting-for-evaluation-criteria-in-an-rfp/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Diagonal composition of sleek metallic infrastructure with a bright green data stream alongside a multi-toned teal geometric block. This visualizes High-Fidelity Execution for Digital Asset Derivatives, facilitating RFQ Price Discovery within deep Liquidity Pools, critical for institutional Block Trades and Multi-Leg Spreads on a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/high-fidelity-digital-asset-derivatives-rfq-execution-optimization-leveraging-proprietary-institutional-prime-os-for-optimal-price-discovery-and-latency-reduction.jpg)

## Evaluation Criteria

An RFP's evaluation criteria weighting is the strategic calibration of a decision-making architecture to deliver an optimal, defensible outcome. </a><a href="https://prime.greeks.live/question/what-is-the-difference-between-an-rfps-process-contract-and-the-final-service-contract/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Abstract visualization of an institutional-grade digital asset derivatives execution engine. Its segmented core and reflective arcs depict advanced RFQ protocols, real-time price discovery, and dynamic market microstructure, optimizing high-fidelity execution and capital efficiency for block trades within a Principal's framework](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-engine-interface.jpg)

## Under Contract

The RFP process contract governs the bidding rules, while the final service contract governs the actual work performed. </a><a href="https://prime.greeks.live/question/what-role-does-a-resolution-authority-play-in-the-valuation-of-derivatives-during-a-bank-failure/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A crystalline droplet, representing a block trade or liquidity pool, rests precisely on an advanced Crypto Derivatives OS platform. Its internal shimmering particles signify aggregated order flow and implied volatility data, demonstrating high-fidelity execution and capital efficiency within market microstructure, facilitating private quotation via RFQ protocols](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-prime-os-rfq-protocol-best-execution.jpg)

## Procuring Authority

A resolution authority executes a defensible valuation of derivatives to enable orderly loss allocation and prevent systemic contagion. </a><a href="https://prime.greeks.live/area/duty-of-fairness/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Close-up reveals robust metallic components of an institutional-grade execution management system. Precision-engineered surfaces and central pivot signify high-fidelity execution for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-grade-digital-asset-derivatives-rfq-execution-precision-optimizing-market-microstructure-for-best-execution-and-prime-os.jpg)

## Duty of Fairness

Meaning ▴ The Duty of Fairness represents a foundational systemic obligation within a digital asset trading venue or protocol, ensuring equitable treatment of all eligible participants. </a><a href="https://prime.greeks.live/area/rfp-process/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precision mechanism with a central circular core and a linear element extending to a sharp tip, encased in translucent material. This symbolizes an institutional RFQ protocol's market microstructure, enabling high-fidelity execution and price discovery for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/precision-engineered-institutional-digital-asset-derivatives-rfq-execution-engine-microstructure-facilitating-optimal-price-discovery-and-best-execution.jpg)

## Rfp Process

Meaning ▴ The Request for Proposal (RFP) Process defines a formal, structured procurement methodology employed by institutional Principals to solicit detailed proposals from potential vendors for complex technological solutions or specialized services, particularly within the domain of institutional digital asset derivatives infrastructure and trading systems. </a><a href="https://prime.greeks.live/area/implied-duties/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precision algorithmic core with layered rings on a reflective surface signifies high-fidelity execution for institutional digital asset derivatives. It optimizes RFQ protocols for price discovery, channeling dark liquidity within a robust Prime RFQ for capital efficiency](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-engine-optimized-for-precision.jpg)

## Implied Duties

Meaning ▴ Implied Duties refer to the unstated yet universally understood obligations and responsibilities inherent in a professional relationship or within a specific market construct, which are critical for operational integrity and the maintenance of trust within institutional digital asset derivatives. </a><a href="https://prime.greeks.live/question/what-are-the-game-theory-implications-of-disclosing-the-number-of-bidders-in-an-rfq/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sophisticated, symmetrical apparatus depicts an institutional-grade RFQ protocol hub for digital asset derivatives, where radiating panels symbolize liquidity aggregation across diverse market makers. Central beams illustrate real-time price discovery and high-fidelity execution of complex multi-leg spreads, ensuring atomic settlement within a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/institutional-grade-rfq-protocol-facilitating-atomic-settlement-and-high-fidelity-execution-of-multi-leg-spreads.jpg)

## Compliant Bidders

Disclosing bidder numbers in an RFQ trades the competitive tension of uncertainty for the calculable pressure of a known rival set. </a><a href="https://prime.greeks.live/area/good-faith/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![An abstract digital interface features a dark circular screen with two luminous dots, one teal and one grey, symbolizing active and pending private quotation statuses within an RFQ protocol. Below, sharp parallel lines in black, beige, and grey delineate distinct liquidity pools and execution pathways for multi-leg spread strategies, reflecting market microstructure and high-fidelity execution for institutional grade digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-rfq-protocol-displaying-multi-leg-execution-status-and-optimal-liquidity-pathways.jpg)

## Good Faith

Meaning ▴ Good Faith, in a financial and operational context, denotes the adherence to honest intent and absence of fraudulent or deceptive conduct during contractual agreements and transactional processes. </a><a href="https://prime.greeks.live/area/expectation-damages/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Angularly connected segments portray distinct liquidity pools and RFQ protocols. A speckled grey section highlights granular market microstructure and aggregated inquiry complexities for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-execution-efficiency.jpg)

## Expectation Damages

Meaning ▴ Expectation Damages represent the financial compensation awarded to an injured party to place them in the same economic position they would have occupied had a contract been fully performed. </a>

**Tags:** [Contract A](https://options.greeks.live/area/contract-a/), [RFP Liability](https://options.greeks.live/area/rfp-liability/), [Procurement Law](https://options.greeks.live/area/procurement-law/), [Good Faith](https://options.greeks.live/area/good-faith/), [Duty of Fairness](https://options.greeks.live/area/duty-of-fairness/), [Non-Binding RFP](https://options.greeks.live/area/non-binding-rfp/)	

## Discover More

- 
### [What Is the “Contract A/Contract B” Theory in RFP Law?](https://options.greeks.live/question/what-is-the-contract-a-contract-b-theory-in-rfp-law/)
![Abstract, sleek forms represent an institutional-grade Prime RFQ for digital asset derivatives. Interlocking elements denote RFQ protocol optimization and price discovery across dark pools. A luminous sphere signifies high-fidelity execution for multi-leg spreads and atomic settlement.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-execution-engine-5.jpg)

The "Contract A/Contract B" theory is a legal framework where the bidding process itself forms a binding preliminary contract (Contract A), which dictates the rules for awarding the final performance contract (Contract B).

- 
### [What Are the Primary Legal Risks of Misclassifying an Rfp?](https://options.greeks.live/question/what-are-the-primary-legal-risks-of-misclassifying-an-rfp/)
![Intersecting sleek components of a Crypto Derivatives OS symbolize RFQ Protocol for Institutional Grade Digital Asset Derivatives. Luminous internal segments represent dynamic Liquidity Pool management and Market Microstructure insights, facilitating High-Fidelity Execution for Block Trade strategies within a Prime Brokerage framework.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-high-fidelity-engine.jpg)

Misclassifying an RFP creates unintended legal obligations by mismatching the procurement protocol to the desired commercial outcome.

- 
### [How Does the Concept of an Implied Duty of Fairness Affect the RFP Process?](https://options.greeks.live/question/how-does-the-concept-of-an-implied-duty-of-fairness-affect-the-rfp-process/)
![A spherical control node atop a perforated disc with a teal ring. This Prime RFQ component ensures high-fidelity execution for institutional digital asset derivatives, optimizing RFQ protocol for liquidity aggregation, algorithmic trading, and robust risk management with capital efficiency.](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-powered-high-fidelity-digital-asset-derivatives-execution.jpg)

The implied duty of fairness transforms an RFP from a simple request into a binding process with enforceable rules of engagement.

- 
### [What Is the “Contract A” Principle and How Does It Apply to the RFP Process?](https://options.greeks.live/question/what-is-the-contract-a-principle-and-how-does-it-apply-to-the-rfp-process/)
![Precision mechanics illustrating institutional RFQ protocol dynamics. Metallic and blue blades symbolize principal's bids and counterparty responses, pivoting on a central matching engine. This visualizes high-fidelity execution and price discovery for digital asset derivatives, emphasizing low latency and capital efficiency.](https://options.greeks.live/wp-content/uploads/2025/07/precision-institutional-digital-asset-derivatives-rfq-execution-engine-microstructure.jpg)

The "Contract A" principle establishes a binding process contract upon bid submission, mandating bid irrevocability and a duty of fairness.

- 
### [What Are the Primary Legal Differences between a Tender Process and an Rfp Process in Public Sector Procurement?](https://options.greeks.live/question/what-are-the-primary-legal-differences-between-a-tender-process-and-an-rfp-process-in-public-sector-procurement/)
![A teal-colored digital asset derivative contract unit, representing an atomic trade, rests precisely on a textured, angled institutional trading platform. This suggests high-fidelity execution and optimized market microstructure for private quotation block trades within a secure Prime RFQ environment, minimizing slippage.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-execution-engine-optimization.jpg)

A tender creates a binding process contract upon bid submission; an RFP initiates a flexible, non-binding negotiation.

- 
### [How Does the “Contract A” Doctrine in Canada Alter RFP Risk Management?](https://options.greeks.live/question/how-does-the-contract-a-doctrine-in-canada-alter-rfp-risk-management/)
![Abstract forms depict institutional digital asset derivatives RFQ. Spheres symbolize block trades, centrally engaged by a metallic disc representing the Prime RFQ. This facilitates high-fidelity execution and atomic settlement, optimizing market microstructure for aggregated inquiry and capital efficiency.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-system-prime-os.jpg)

The "Contract A" doctrine imposes a binding preliminary contract on Canadian RFP processes, demanding rigorous procedural fairness to mitigate significant litigation risk.

- 
### [Can an Rfp Itself Be Legally Construed as an Offer to Form a Contract?](https://options.greeks.live/question/can-an-rfp-itself-be-legally-construed-as-an-offer-to-form-a-contract/)
![A central toroidal structure and intricate core are bisected by two blades: one algorithmic with circuits, the other solid. This symbolizes an institutional digital asset derivatives platform, leveraging RFQ protocols for high-fidelity execution and price discovery. It optimizes market microstructure for capital efficiency, managing multi-leg spreads and latent liquidity within a Principal's operational framework.](https://options.greeks.live/wp-content/uploads/2025/07/digital-asset-derivatives-rfq-execution-hub-integrating-algorithmic-intelligence-for-high-fidelity-price-discovery-and-liquidity-aggregation.jpg)

An RFP is generally an invitation for offers, but specific, promissory language can transform it into a legally binding offer.

- 
### [How Does a Privilege Clause in a Non-Binding Rfp Protect the Issuing Organization?](https://options.greeks.live/question/how-does-a-privilege-clause-in-a-non-binding-rfp-protect-the-issuing-organization/)
![A precise lens-like module, symbolizing high-fidelity execution and market microstructure insight, rests on a sharp blade, representing optimal smart order routing. Curved surfaces depict distinct liquidity pools within an institutional-grade Prime RFQ, enabling efficient RFQ for digital asset derivatives.](https://options.greeks.live/wp-content/uploads/2025/07/high-fidelity-digital-asset-derivatives-execution-via-rfq-protocols.jpg)

A privilege clause in a non-binding RFP is a legal shield preserving the issuer's ultimate decision-making authority and mitigating risk.

- 
### [Under What Circumstances Can a Non-Binding Rfp Still Create Unintended Legal Obligations for the Issuer?](https://options.greeks.live/question/under-what-circumstances-can-a-non-binding-rfp-still-create-unintended-legal-obligations-for-the-issuer/)
![A complex core mechanism with two structured arms illustrates a Principal Crypto Derivatives OS executing RFQ protocols. This system enables price discovery and high-fidelity execution for institutional digital asset derivatives block trades, optimizing market microstructure and capital efficiency via private quotations.](https://options.greeks.live/wp-content/uploads/2025/07/high-fidelity-digital-asset-derivatives-rfq-execution-protocol-system.jpg)

A non-binding RFP creates legal obligations when an issuer's conduct implies a promise or a fair process, overriding explicit disclaimers.

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---

**Original URL:** https://options.greeks.live/question/what-is-the-contract-a-and-contract-b-scenario-and-how-does-it-impact-rfp-liability/
