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Published 1 Aug 2024

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SafetyCulture Content Team

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2 min read

What is a Request for Quotation (RFQ)?

A Request for Quotation (RFQ) is a document prepared by a buyer, such as a procurement officer, to get price quotes for a specific product or service from suppliers or vendors. It usually contains the requirements set by the buyer, the product quantity or length of service (e.g., number of hours), and any additional information that could help the supplier or vendor in submitting a detailed and accurate quote.

What to Include

A request for quotation should include the following:

  • Product or service details

  • Quantity and unit price (for products)

  • Number of hours and cost of labor (for services)

  • Required delivery date of product/service

  • Quote submission deadline

  • Evaluation process and criteria

  • Payment terms and other information

  • Contract terms and conditions

What is a Request for Quotation Template?

A request for quotation template (or RFQ template) is a tool used by procurement officers to send the same RFQ to multiple suppliers and vendors. A RFQ template standardizes the information received by the procurement officer by asking each supplier or vendor the same set of questions. This helps in comparing price quotes and selecting the best supplier or vendor for the product or service.

How to Write RFQ with Example

Write a request for quotation by following these 10 steps:

1. Specify the product or service you’re requesting the quote for

how to write RFQ sample step 1

2. State the product quantity or length of service needed

how to write RFQ sample step 2

3. Determine the pricing method (e.g., unit price or hourly rate)

how to write RFQ sample step 3

4. Request a product or service price breakdown

how to write RFQ sample step 4

5. Note when you need the product or service delivered

how to write RFQ sample step 5

6. Describe the evaluation method/criteria and process

how to write RFQ sample step 6

7. Include payment terms and contract terms and conditions

how to write RFQ sample step 7

8. Create a section for Frequently Asked Questions (FAQ)

how to write RFQ sample step 8

9. Provide instructions on how to complete the RFQ

how to write RFQ sample step 9

10. Highlight the due date for submitting price quotations

how to write RFQ sample step 10

For more guidance on how to write RFQ, preview the request for quotation sample PDF report or test out other RFQ templates, such as the ones below:

Price Quote Template

Price Quote Template - RFQ Template from SafetyCulture

Free Price Quote Template | SafetyCulture

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Request for Quote Template

This RFQ template is ideal for project-based quotations. Procurement officers and purchasing managers can do the following with the request for quote template:

  1. Record the details of the requesting company, including name, address, phone, email, and name of contact person

  2. Provide more information on the project, such as who the project lead is, their contact details, project objectives, goals, and background

  3. Require the vendor to submit their best price for the product or service

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