Request for quotation (RFQ)
A request for quotation (RFQ) asks suppliers for a price on clearly defined goods or services, usually for smaller purchases.
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Definition
A request for quotation (RFQ) asks suppliers for a price on clearly defined goods or services, usually for smaller purchases. Federal agencies use RFQs under simplified acquisition procedures (FAR Part 13).
Under the FAR, a quotation is not an offer: the government cannot accept it to form a contract. The agency's order is the offer, and the contract forms when the supplier accepts the order.
Some agencies, especially for architecture and engineering, use RFQ to mean request for qualifications, which ranks firms on qualifications rather than price. Read the solicitation to tell which one it is.
How it differs
- 01
vs. Request for proposals (RFP)
An RFP invites a proposed approach and is scored on several factors; an RFQ is mostly a price request. What is RFP?
- 02
vs. Invitation for bids (IFB / ITB)
An IFB produces binding sealed bids; a federal RFQ quotation is not an offer at all. What is IFB?
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Related terms
Questions
What does RFQ mean in procurement?
A request for quotation (RFQ) asks suppliers for a price on clearly defined goods or services, usually for smaller purchases. Federal agencies use RFQs under simplified acquisition procedures (FAR Part 13).
What is the difference between RFQ and RFP?
An RFP invites a proposed approach and is scored on several factors; an RFQ is mostly a price request.
What is the difference between RFQ and IFB?
An IFB produces binding sealed bids; a federal RFQ quotation is not an offer at all.