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REQUEST FOR QUOTATION Date : April 4, 2016, RFQ No. LOV03316 Name of Hotel/Venue Address: Name of Company: Address: Business Permit No.: TIN: Philips Registration No.: The Department of Agriculture,

How to fill out request for quotation

How to fill out a request for quotation:

1. Identify the specific products or services you require: Start by clearly defining what you need in terms of products or services. Be as specific as possible, including quantities, specifications, and any other relevant details. This will ensure that the supplier understands your requirements accurately.
2. Research potential suppliers: Look for reputable suppliers who can meet your needs. Consider factors such as their experience, quality of products or services, pricing, and delivery capabilities. Gather the necessary information, such as their contact details, to include in the request.
3. Create a template for the request: Design a standardized format for your request for quotation (RFQ). This template should include sections for your company's information, the description of the products or services, delivery requirements, payment terms, and any other relevant details. Having a well-structured template will help streamline the process and make it easier for suppliers to provide accurate quotes.
4. Fill in your company's information: Begin by providing comprehensive details about your company, including its name, address, contact person, and any other relevant information. This will help suppliers identify your company properly and allow effective communication.
5. Provide a clear description of the products or services: Clearly define what you are looking for, including specifications, quantities, quality standards, and any other important details. The more precise and detailed your description, the higher the chances of getting accurate quotes that meet your requirements.
6. Include delivery requirements: Specify the desired delivery timelines and any special handling or logistics instructions if applicable. This will allow suppliers to understand your expectations regarding the delivery of the products or services.
7. Set payment terms: Indicate your preferred payment terms, such as payment methods, accepted currencies, and any specific payment terms or conditions you require.
8. Attach any supporting documents: If you have any relevant documents or specifications that need to accompany the RFQ, attach them to the request. This can include technical drawings, product samples, or any other documents that provide further clarity on your requirements.

Who needs a request for quotation?

1. Businesses looking to source products or services: Any organization or company that needs to procure specific products or services can benefit from a request for quotation. It helps them gather information about the market rates, available options, and evaluate potential suppliers.
2. Purchasing departments and procurement professionals: Procurement departments and professionals within organizations are responsible for sourcing and purchasing goods or services. They often initiate the RFQ process to gather quotes from different suppliers and negotiate the best terms on behalf of the company.
3. Suppliers and vendors: Suppliers and vendors who receive a request for quotation can use it as an opportunity to showcase their capabilities, submit competitive quotes, and potentially win new business. Responding to RFQs allows them to establish relationships with potential clients and expand their customer base.

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What is request for quotation?

Request for Quotation (RFQ) is a document issued by a company to request price quotes and proposals from potential suppliers.

Who is required to file request for quotation?

Typically, procurement or purchasing departments within a company are responsible for filing a request for quotation.

How to fill out request for quotation?

To fill out a request for quotation, one must specify the products or services needed, provide details on the quantity required, and outline any specific requirements or criteria.

What is the purpose of request for quotation?

The purpose of a request for quotation is to obtain competitive bids from suppliers in order to compare pricing, quality, and terms before making a purchasing decision.

What information must be reported on request for quotation?

A request for quotation should include details about the products or services needed, quantities required, delivery requirements, quality standards, and any specific terms or conditions.