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MARIANO MARCOS STATE UNIVERSITY Procurement DivisionimRequest for Quotation (RFQ) (Goods and Services)Document CodePDFRM002Revision No.4c n e c A iv iiyJ d l l U d l y O , Z . J A 1U d te| Page l

How to fill out request for quotation rfq

How to fill out request for quotation rfq

1. Start by gathering all the necessary information about the product or service you need to request a quotation for.
2. Identify the key requirements and specifications of the product or service.
3. Research potential suppliers or vendors who can provide the desired product or service.
4. Prepare a clear and concise RFQ document stating your requirements, specifications, and desired terms and conditions.
5. Include any necessary attachments such as drawings, technical specifications, or sample requests.
6. Send the RFQ to the selected suppliers or vendors through email or any preferred communication channel.
7. Set a deadline for the suppliers or vendors to submit their quotations.
8. Review the received quotations and compare them based on price, quality, lead time, and other relevant factors.
9. Evaluate the reputation and reliability of the suppliers or vendors before making a final decision.
10. Communicate with the selected supplier or vendor to negotiate the final terms, pricing, and any modifications if needed.
11. Once satisfied, award the contract to the chosen supplier or vendor, and proceed with the necessary documentation and agreements.
12. Keep a record of the RFQ process for future reference and analysis.

Who needs request for quotation rfq?

1. Request for Quotation (RFQ) is commonly used by organizations or businesses that require products or services from external suppliers or vendors.
2. It is particularly useful for procurement departments, purchasing managers, or anyone involved in the sourcing and procurement process.
3. Small to large-scale businesses from various industries like manufacturing, construction, IT, and services can benefit from using RFQs to streamline the supplier selection and negotiation process.

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What is request for quotation rfq?

A Request for Quotation (RFQ) is a business document used to solicit price quotes from suppliers for specific products or services.

Who is required to file request for quotation rfq?

Businesses or individuals who are looking to obtain price quotes for goods or services typically file an RFQ.

How to fill out request for quotation rfq?

To fill out an RFQ, provide detailed descriptions of the products or services needed, specify quantities and deadlines, and include any requirements or criteria for selection.

What is the purpose of request for quotation rfq?

The purpose of an RFQ is to obtain competitive pricing from suppliers to make informed purchasing decisions.

What information must be reported on request for quotation rfq?

An RFQ should include information such as product specifications, quantity needed, delivery timelines, terms and conditions, and any special requirements.