Request for quotation
RFQ / RFQ · Request for quote
A request for quotation is a sourcing document that asks suppliers to price a defined requirement, usually when specifications are stable and comparison is mainly on commercial terms.
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Simply put
What it means in ordinary work
An RFQ is useful when the buyer knows exactly what is needed and wants comparable prices. It is less useful when suppliers need to propose different solutions.
Why it matters
A well-run RFQ can produce a clear, auditable comparison. A poorly specified one produces quotes that cannot fairly be compared.
A hypothetical in practice
A hypothetical office services team issues an RFQ for 300 identical chairs with fixed specifications, delivery dates and warranty terms. Each supplier prices the same baseline, and the team compares total evaluated cost.
Common pitfalls
Selecting on the lowest price while ignoring delivery, warranty or quality can produce a worse commercial outcome.
Changing scope after quotes arrive undermines comparability. Record any clarification and reissue if material assumptions change.
Regional lens
How this lands where you work
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As-of date for date-sensitive regional content: 5 November 2026. Read the review policy.