Request Form for Quotation

A Request Form for Quotation is used to formally ask suppliers or vendors for the pricing and availability of goods or services.

The request form for quotation is typically filed by the individual or organization who is seeking the quotation.

FAQ

Q: What is a Request for Quotation?A: A Request for Quotation (RFQ) is a document used to solicit price quotes or bids from suppliers or vendors for products or services.

Q: Why would I use a Request for Quotation?A: You would use an RFQ to gather information about the cost and availability of goods or services before making a purchase decision.

Q: What information should be included in a Request for Quotation?A: An RFQ should include details about the product or service needed, quantities required, desired delivery dates, and any specific requirements or specifications.

Q: What happens after I submit a Request for Quotation?A: Suppliers or vendors will review the RFQ and provide price quotes or bids based on the information provided. You can evaluate the offers and select the one that best meets your needs.

Q: Is a Request for Quotation legally binding?A: No, an RFQ is not legally binding. It is simply a document used to gather information and quotes. However, once you accept a supplier's offer and enter into a formal contract, that becomes legally binding.

Q: Can I negotiate the prices quoted in a Request for Quotation?A: Yes, you can negotiate the prices quoted in an RFQ. It is common for buyers to engage in negotiations with suppliers to reach a mutually agreed-upon price.

Q: Can I request samples or demonstrations as part of the RFQ process?A: Yes, you can request samples or demonstrations from suppliers as part of the RFQ process to assess the quality or suitability of their products or services.

Q: How long does it typically take to receive responses to an RFQ?A: The timeframe for receiving responses can vary depending on the complexity of the request and the number of suppliers contacted. It is advisable to set a reasonable deadline for suppliers to submit their quotes.