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PROCUREMENT DEPARTMENT 4 WORLD TRADE CENTER, 21ST FL. 150 GREENWICH STREET NEW YORK, NY 10007 INVITATION FOR BID ISSUE DATE: 2/3/2021 TITLE: VEHICLE TRANSMISSION AND REPAIR SERVICES FIVE (5) YEAR

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How to fill out request for quotation

01

Start by identifying the goods or services you need to purchase.

02

Prepare a detailed description of the goods or services, including any specifications or requirements.

03

Research potential suppliers or vendors who can provide the goods or services.

04

Create a template for the request for quotation (RFQ), including the necessary details such as contact information, delivery requirements, and deadline for submission.

05

Send the RFQ to the selected suppliers or vendors, either via email or through a procurement platform.

06

Wait for the suppliers or vendors to respond with their quotations, ensuring that they provide all the required information and pricing.

07

Evaluate the received quotations based on factors such as price, quality, delivery time, and reputation of the supplier or vendor.

08

Negotiate with the suppliers or vendors if necessary to get the best possible deal.

09

Select the most suitable supplier or vendor based on the evaluation and negotiate final terms and conditions.

10

Review and finalize the purchase agreement with the selected supplier or vendor.

11

Communicate the result of the RFQ process to all the participating suppliers or vendors.

12

Place the purchase order with the selected supplier or vendor.

Who needs request for quotation?

01

Any organization or individual who needs to purchase goods or services can benefit from using a request for quotation (RFQ). This includes businesses, government agencies, non-profit organizations, educational institutions, and individual consumers. By requesting quotations from multiple suppliers or vendors, the buyer can compare prices, quality, and other factors to make an informed purchasing decision. RFQs are often used for procuring items or services in bulk, making significant purchases, or engaging in competitive bidding.

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What is request for quotation?

Request for Quotation (RFQ) is a document used in procurement to request price quotes from suppliers for the purchase of goods or services.

Who is required to file request for quotation?

The purchasing department or procurement team of a company is typically responsible for filing a request for quotation.

How to fill out request for quotation?

To fill out a request for quotation, you need to provide details about the product or service being requested, quantity needed, desired delivery date, and any other relevant information for suppliers to provide accurate quotes.

What is the purpose of request for quotation?

The purpose of a request for quotation is to gather pricing information from suppliers in order to make informed purchasing decisions.

What information must be reported on request for quotation?

A request for quotation should include details such as product specifications, quantity needed, delivery requirements, payment terms, and any other relevant information.

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