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United Nations Development Program REQUEST FOR QUOTATION (RFQ) REFERENCE: RFQ/ART/13/025R1 DATE: 01/09/2013 Dear Sir / Madam: We kindly request you to submit your quotation for supply and delivery

How to fill out request for quotation rfq

How to fill out a request for quotation (RFQ):

1. Start by gathering all the necessary information: Before filling out the RFQ, make sure you have all the details about the product or service you are looking to procure. This includes specifications, quantities, delivery timelines, and any other relevant information.
2. Identify potential suppliers: Research and identify potential suppliers who can fulfill your requirements. Consider factors such as their reputation, experience, and pricing. Having a list of suppliers will help streamline the RFQ process.
3. Create the RFQ document: Use a standardized RFQ template or create your own. Clearly state the purpose of the RFQ, the specifications required, the desired quantity, the expected delivery date, and any other relevant terms and conditions.
4. Include a deadline for submission: Specify a deadline by which all potential suppliers need to submit their quotations. This will help you compare quotes and make a decision in a timely manner.
5. Share the RFQ document: Send the RFQ to the identified suppliers via email or any other preferred communication method. Ensure that all suppliers receive the RFQ simultaneously to ensure fairness.
6. Answer supplier queries: Be prepared for potential queries or clarifications from suppliers. Promptly respond to any questions they may have to avoid misunderstandings and delays.
7. Evaluate and compare the quotes: Once the deadline for submissions has passed, carefully review and compare the quotes received from different suppliers. Consider factors such as the price, quality, delivery terms, and any additional services offered.
8. Make a decision: Based on the evaluation, select the supplier that best meets your requirements and offers the most value. Notify the chosen supplier and provide any necessary documentation or agreements to proceed with the procurement process.

Who needs a request for quotation (RFQ)?

1. Businesses procuring goods or services: Companies or organizations that are in need of specific goods or services use RFQs to request quotes from potential suppliers. This allows them to compare offerings and make an informed decision.
2. Suppliers and vendors: Suppliers and vendors who receive RFQs have the opportunity to showcase their products or services and compete for the business. RFQs enable them to understand the buyer's requirements and submit competitive quotations.
3. Government agencies and public organizations: Government agencies and public organizations often use RFQs as part of their procurement process. This ensures transparency and competition while obtaining goods or services for public use.

In conclusion, filling out an RFQ involves gathering relevant information, identifying potential suppliers, creating the RFQ document, sharing it with suppliers, evaluating the quotes received, and making a decision based on the best fit for your requirements. RFQs are commonly used by businesses, suppliers, and government agencies to facilitate fair and transparent procurement processes.

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What is request for quotation rfq?

Request for Quotation (RFQ) is a document used in procurement processes to invite suppliers to submit a bid for the supply of goods or services.

Who is required to file request for quotation rfq?

Usually the purchasing department or procurement team within an organization is responsible for filing a Request for Quotation (RFQ).

How to fill out request for quotation rfq?

To fill out a Request for Quotation (RFQ), one typically includes details about the required goods or services, specifications, quantity, pricing information, terms and conditions, and any other relevant information.

What is the purpose of request for quotation rfq?

The purpose of a Request for Quotation (RFQ) is to gather competitive bids from potential suppliers in order to compare prices, quality, and terms before making a purchasing decision.

What information must be reported on request for quotation rfq?

Information such as the name and contact details of the organization, description of the required goods or services, specifications, quantity, pricing information, delivery terms, and any other relevant terms and conditions must be reported on a Request for Quotation (RFQ).