A Request for Quotation (RFQ) is a formal document issued by client to potential vendors, requesting cost estimates for specific goods or services. The RFQ outlines the needs of the buyer and request for quotation provides a structure for providers to submit their bids. It often comprises information such as the product or service description, quan

A Quote Request, often shortened to RFQ, is a formal document sent by a buyer to vendors seeking prices on defined requirements. The RFQ provides detailed specifications about the needed items, allowing suppliers to submit comprehensive proposals. Upon review of the submitted bids, the buyer can then choose a contract to the most acceptable suppli