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MARIANO MARCOS STATE UNIVERSITY Procurement Division Request for Quotation (RFQ) (Goods and Services)Document CodePDFRM002Revision No. Effectivity Date4 Page 1 of 2 January 8, 2021REQUEST FOR QUOTATION

How to fill out request for quotation rfq

How to fill out request for quotation rfq

1. To fill out a request for quotation (RFQ), follow these steps: 1. Identify the products or services you need: Before filling out the RFQ, have a clear understanding of the products or services you require.
2. Research potential suppliers: Identify potential suppliers who can fulfill your requirements. Consider factors such as their reputation, reliability, and pricing.
3. Gather necessary information: Collect all the necessary information such as product specifications, quantity needed, delivery requirements, and any other relevant details.
4. Prepare the RFQ document: Create the RFQ document, including a clear and concise description of the products or services, your specific requirements, terms and conditions, and any other necessary information.
5. Send the RFQ to suppliers: Distribute the RFQ to the identified suppliers. You can send it via email, fax, or through an online RFQ platform.
6. Review received quotations: Evaluate the received quotations based on factors like pricing, delivery terms, quality, and supplier reputation.
7. Communicate with suppliers: If necessary, communicate with the suppliers to clarify any questions or negotiate terms.
8. Select the most suitable supplier: Based on the evaluation and communication, choose the supplier that best meets your requirements.
9. Finalize the agreement: Once you have selected a supplier, finalize the agreement by signing a contract or purchase order.
10. Monitor supplier performance: Continuously monitor the performance of the supplier to ensure they meet your expectations.
11. Note: It is recommended to keep a record of all communication and documents related to the RFQ process for future reference.

Who needs request for quotation rfq?

1. Request for quotation (RFQ) is needed by various organizations or individuals who are looking to purchase products or services.
2. Some examples of entities that may require RFQs include:
3. - Businesses and companies procuring goods or services for their operations
4. - Government agencies procuring supplies or services
5. - Non-profit organizations sourcing materials or services for their projects
6. - Individuals seeking to purchase products or services for personal use
7. RFQs are commonly used when there is a need to compare prices, quality, and terms among multiple suppliers before making a purchasing decision.

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What is request for quotation rfq?

A Request for Quotation (RFQ) is a document issued by a buyer to invite suppliers to provide a quote for specific goods or services.

Who is required to file request for quotation rfq?

Typically, businesses or organizations seeking to procure goods or services are required to file an RFQ.

How to fill out request for quotation rfq?

To fill out an RFQ, specify the goods or services needed, outline the quantities, detail any specifications, and include deadlines for responses.

What is the purpose of request for quotation rfq?

The purpose of an RFQ is to gather competitive bids from suppliers, allowing the buyer to compare pricing and capabilities.

What information must be reported on request for quotation rfq?

An RFQ must include the description of the requested items, quantities, delivery requirements, and any specific terms and conditions relevant to the order.