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REQUEST FOR QUOTATION (THIS IS NOT AN ORDER)THIS RFQIS1. REQUEST NO.2. DATE ISSUED3. REQUISITION/PURCHASE REQUEST NO.PR983087204/13/2021PR98308725a. ISSUED Embassy of the United States, ManaguaOFPAGES14.
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Start by gathering the necessary information needed for the request for quotation, such as product details, specifications, and quantity required.
02
Identify potential suppliers or vendors who can provide the products or services you need.
03
Prepare a formal request for quotation document that includes your company's information, a clear description of the requested products or services, delivery requirements, terms and conditions, and any other relevant details.
04
Send the request for quotation to the selected suppliers or vendors, either via email or through an online platform, ensuring that it reaches the appropriate contact person.
05
Follow up with the suppliers or vendors to ensure they have received the request and address any clarifications they may have.
06
Give suppliers a deadline for submitting their quotations and specify the required format or template for their responses.
07
Evaluate the received quotations based on factors such as price, quality, delivery time, and supplier reputation.
08
Select the most suitable quotation that meets your requirements and negotiate further if needed.
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Prepare a purchase order or contract based on the agreed quotation and finalize the deal with the chosen supplier.
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Keep records of the entire request for quotation process for future reference and auditing purposes.

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Request for Quotation (RFQ) is a document used in procurement processes to invite suppliers to submit a bid for products or services.
The procurement department or purchasing team within an organization is typically responsible for filing a request for quotation.
To fill out a request for quotation, the requester should include details about the products or services needed, desired delivery schedule, budget constraints, and any specific requirements.
The purpose of a request for quotation is to gather pricing and availability information from potential suppliers in order to make an informed purchasing decision.
Information such as product or service specifications, quantity needed, delivery requirements, expected timeline, and any specific terms and conditions should be reported on a request for quotation.
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