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REQUEST FOR QUOTATION Mode of ProcurementRepublic of the Philippines Department of Agriculture BUREAU OF FISHERIES AND AQUATIC RESOURCES BIDS AND AWARDS COMMITTEE (BAC) OFFICE8824 SHOPPING (b) NP(Small
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01
Gather all necessary information about the products or services needed.
02
Create a detailed list of requirements, specifications, and quantities.
03
Research potential suppliers or vendors who can provide the products or services.
04
Prepare a formal document with all the information gathered, including contact details, delivery requirements, and payment terms.
05
Send the request for quotation (RFQ) to the selected suppliers and wait for their responses.
06
Evaluate the received quotations based on price, quality, and other relevant factors.
07
Select the best supplier based on the evaluation and negotiate the final terms and conditions.
08
Finalize the purchase agreement and proceed with the order.

Who needs request for quotation rfq?

01
Any organization or individual looking to purchase products or services from suppliers or vendors can benefit from using a request for quotation (RFQ).
02
RFQs are commonly used in industries such as manufacturing, construction, and procurement to streamline the procurement process and ensure competitive pricing.
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A Request for Quotation (RFQ) is a standard business process in which a company solicits price quotes from suppliers for specific products or services.
Typically, procurement departments or purchasing agents within organizations are required to file a Request for Quotation (RFQ) when seeking bids from vendors.
To fill out an RFQ, include details such as the specifications of the products or services needed, quantity, delivery time frames, and any terms and conditions that apply.
The purpose of an RFQ is to gather competitive pricing and terms from multiple suppliers, enabling the buyer to make an informed purchasing decision.
Information that must be reported on an RFQ includes item descriptions, quantities, required delivery dates, payment terms, and specifications or requirements.
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