Request for Quotation Form

It is a document that an organization submits to one or more potential suppliers eliciting quotations for a product or service.

• Request for quotation

• Reason for quotation

• Request for quercitron

• Reason for quercitron

The following are details needed in Request for Quotation Form EXCEPT ONE:

• Company Name

• Customer Details

• Product

• Relationship status

An RFQ seeks an itemized list of prices for something that is well-defined and quantifiable.

• True

• False

RFQ helps the customers or the clients to decide which product is the best to buy.

• True

• False

An RFQ doesn't allow the company wanting the products or services to easily compare quotes between companies, as they are usually used when the product or service needed is standard between companies.

• True

• False

Answer explanation

It allows.

The quotes are not comparable because of the little variation between the product or service from company to company.

• True

• False

Answer explanation

They are comparable.

The company name of the client is not needed for the RFQ.

• True

• False

Answer explanation

It is needed.

Let’s say an organization is trying to order 100 of a specific type of gear that has a particular size and material. This product will be uniform and basically invariable between different vendors. Can an RFQ be used?

• Yes

• No

What are the common details that you can find in different Request for Quotation Forms?

Why is the RFQ important?