Procurement - Document
RFQ
(Request for Quotation)
A formal request asking suppliers to price a clearly specified product or service
What's it for?
Gets comparable prices from suppliers when an organisation already knows exactly what it wants to buy.
For example…
IT sends an RFQ for 200 identical laptops with a fixed spec; three vendors reply with unit prices and delivery dates.
Procurement sends an RFQ for 500 standard laptops with a fixed specification so suppliers can be compared mainly on price and commercial terms
Think of it like…
Asking three builders for a fixed price on the same kitchen drawing, not ideas for redesigning the house