Final answer:
Amending an IFB involves making changes to its content, while cancelling an IFB means revoking the entire solicitation. Amendments may occur for clarification or improvements, whereas a cancellation typically happens when the solicitation is no longer required or if there are no suitable bids.
Step-by-step explanation:
The difference between amending and canceling an Invitation For Bid (IFB) usually pertains to procurement and contract management within the business field. Amending an IFB means making changes to the terms and conditions, scope of work, or other details within the original bid document whereas cancelling an IFB implies completely revoking or calling off the entire bid solicitation process. An amendment is often issued if there are clarifications required or if there are modifications that might be beneficial to the bidders or the issuer, while cancellation might occur if the project is no longer needed, the specifications significantly change or if there are no responsive bids.