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United Nations Development Program REQUEST FOR QUOTATION (RFQ) REFERENCE: RFQ/ART/12/057 DATE: 3/05/2012 Dear Sir / Madam: You are kindly requested to submit a quotation for the following goods. Original

How to fill out request for quotation rfq

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

1. Start by gathering all relevant information: Before filling out an RFQ, gather all the necessary information, such as the specific product or service you require, the quantity needed, any technical specifications, and any other important details that suppliers need in order to provide an accurate quotation.
2. Identify potential suppliers: Research and identify potential suppliers who are capable of fulfilling your requirements. This can involve reaching out to suppliers you have worked with before or conducting market research to find new potential suppliers.
3. Create a clear and concise RFQ document: It is important to create an RFQ document that clearly outlines your requirements. Include information such as your company name, contact details, delivery requirements, payment terms, and any other relevant details. Make sure to provide a detailed description of the product or service needed, including any technical specifications or quality standards that suppliers must adhere to.
4. Specify the desired quotation format: In your RFQ, be sure to specify the format in which suppliers should submit their quotations. This can be in the form of a spreadsheet, a PDF document, or any other format that makes it easy for you to compare and evaluate different quotations.
5. Send out the RFQ to potential suppliers: Once you have created the RFQ document, send it out to the identified potential suppliers. Provide them with a deadline for submitting their quotations to ensure timely responses.
6. Evaluate the received quotations: Once you have received the quotations from suppliers, carefully evaluate them based on important factors such as price, quality, delivery time, and supplier reputation. Compare the different options and consider requesting additional information or clarification if needed.
7. Select the most suitable supplier: Based on the evaluation of the received quotations, choose the supplier that best meets your requirements. It may be helpful to create a scoring system or use a decision matrix to objectively assess the quotations and make an informed decision.

Who needs a request for quotation (RFQ)?

1. Organizations seeking to procure goods or services: Businesses and organizations that are in need of specific goods or services often utilize RFQs to gather competitive quotes from potential suppliers. RFQs help organizations evaluate and choose the most suitable supplier based on various criteria such as price, quality, and delivery time.
2. Government agencies: Government agencies, at various levels, use RFQs as a transparent and standardized procurement process. RFQs ensure fair competition among suppliers and help government entities make informed decisions while adhering to procurement regulations.
3. Individual consumers: While less common, individual consumers can also use RFQs when seeking customized or specialized products or services. This allows them to compare prices and quality from different suppliers, ensuring they make a well-informed purchasing decision.

In conclusion, filling out an RFQ involves gathering all necessary information, creating a clear RFQ document, identifying potential suppliers, sending out the RFQ, evaluating received quotations, and selecting the most suitable supplier. Various organizations, including businesses, government agencies, and individual consumers, may utilize RFQs to effectively procure goods or services.

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What is request for quotation rfq?

Request for Quotation (RFQ) is a document that is used to invite competitive bids from suppliers for products or services.

Who is required to file request for quotation rfq?

Usually procurement or purchasing department is responsible for filing request for quotation (RFQ).

How to fill out request for quotation rfq?

To fill out an RFQ, provide details about the products or services needed, quantity required, delivery timelines, and any other specifications. The RFQ should also include terms and conditions for vendors to follow.

What is the purpose of request for quotation rfq?

The purpose of RFQ is to request competitive bids from suppliers in order to compare pricing and terms to select the best supplier.

What information must be reported on request for quotation rfq?

Information such as product or service details, quantity required, delivery timelines, terms and conditions, and evaluation criteria must be reported on RFQ.