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INVITATION FOR QUOTATION TEQIPII/2012/WB2G02/Shopping/5429Nov2012To,Sub: Invitation for Quotations for supply of Goods Package Code: TEQIPII/WB/WB2G02/59Dear Sir, 1. You are invited to submit your
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How to fill out request for quotation process

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How to fill out request for quotation process

01
Identify the goods or services needed.
02
Gather specifications and relevant details for the items.
03
Determine potential suppliers and their contact information.
04
Create a request for quotation (RFQ) document outlining the requirements and terms.
05
Send the RFQ to the selected suppliers.
06
Wait for suppliers to submit their quotations.
07
Evaluate the received quotations against your needs and budget.
08
Select the best supplier based on the evaluation criteria.
09
Notify the chosen supplier and proceed with the order.

Who needs request for quotation process?

01
Businesses looking to procure goods or services.
02
Procurement departments seeking competitive pricing.
03
Project managers who require specific products or services.
04
Organizations aiming to establish supplier relationships.
05
Any entity that needs to make informed purchasing decisions.
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The request for quotation (RFQ) process is a formal method used by organizations to invite suppliers or vendors to submit price quotations for specific products or services. It typically involves outlining the requirements and specifications for the desired goods or services.
Organizations or individuals looking to procure goods or services that exceed a certain monetary threshold are generally required to file a request for quotation process, ensuring fair competition and cost transparency.
To fill out the request for quotation process, one should specify the item or service details, quantity, delivery requirements, deadline for quotation submission, and any relevant terms and conditions. This information is typically compiled into a formal RFQ document.
The purpose of the request for quotation process is to gather competitive pricing and terms from various suppliers, ensuring that the buyer can make an informed decision while also promoting transparency and fairness in procurement.
The RFQ process must report information such as a detailed description of the goods or services requested, specifications, quantity required, delivery timeline, evaluation criteria for selecting bids, and any pertinent compliance or legal conditions.
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