A request for price quotation (RFQ) is a buyer’s solicitation asking one or more suppliers to price specified goods or services and provide related offer details. A clear RFQ states what is needed, how suppliers should respond, and how responses will be assessed. The precise document format and legal effect vary by procurement system and jurisdiction.
What does RFQ mean?
RFQ commonly means “request for quotation” or “request for price quotation.” It is the buyer’s request—not the supplier’s quote. The buyer describes a need and invites suppliers to submit prices and other required information. Procurement authorities may use different names and procedures: Ghana’s Public Procurement Authority, for example, publishes a standard goods document titled Procurement of Goods – Price Quotation.
An RFQ is most useful when the buyer can describe the requirement clearly enough for suppliers to price it on a comparable basis. Whether a buyer must use an RFQ, invite a particular number of suppliers, or follow a different procedure depends on the applicable rules and circumstances.
How does a request for quotation work?
- The buyer defines the need. The solicitation identifies the goods or services and states the specifications, quantities, delivery needs, and other relevant conditions.
- The buyer invites responses. Suppliers receive the request through the channel and by the deadline set by the applicable process.
- Suppliers submit quotations. Each supplier provides the requested price breakdown and confirms whether it can meet the requirements and terms.
- The buyer checks and compares offers. The buyer evaluates submissions against the stated requirements and criteria, then proceeds under the procurement process to select a supplier or take the next contracting step.
A 2024 Philippine e-procurement notice for a computer desktop illustrates these elements: it asks suppliers for their best offer, sets a closing time, provides technical requirements and fields for unit and total costs, and calls for a signed submission. Its stated approved budget of PHP 60,000.00 belongs to that particular procurement; it is not a general RFQ limit. See the Philippine procurement notice.
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What should a useful RFQ include?
Include enough detail for suppliers to respond consistently and for the buyer to compare like with like. Depending on the purchase and applicable rules, a request may include:
- A clear description of the item or service, including required specifications and acceptable alternatives, if any.
- Quantities and units of measure.
- Delivery location and expected delivery date or schedule.
- The requested price format, such as unit price and total price, along with currency, taxes, and other charges to identify.
- The submission deadline, required response format, and submission channel.
- How long the quotation must remain valid.
- The evaluation or selection criteria, including any minimum technical requirements.
- Relevant payment, warranty, and other commercial terms.
These fields reflect common practical needs and clauses found in official examples; they are not a universal checklist of legally mandatory terms. The procurement rules that apply to the buyer may prescribe a specific form or additional requirements.
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How are RFQ responses evaluated?
The solicitation should explain the criteria the buyer will use. Those criteria may require compliance with minimum specifications as well as price, rather than price alone. In one Philippine goods procurement, the Ifugao request states that the award goes to the lowest quotation that meets the minimum technical specifications and other conditions. That is the rule stated for that procurement, not a universal RFQ award standard.
When deciding whether an RFQ is an appropriate procedure, buyers should check the governing procurement rules, the complexity of the requirement, required competition or supplier outreach, whether non-price factors matter, and what documentation and contracting steps are required. Authorities may provide distinct procedures and documents for different circumstances; Ghana’s authority lists price-quotation and national competitive-tender documents separately.
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Is an RFQ the same as a quotation or purchase order?
| Term | What it is | Role in the process |
|---|---|---|
| RFQ or request for price quotation | The buyer’s solicitation or the procurement document or method used to request offers. | Defines the requirement and asks suppliers to respond. |
| Supplier quotation | A supplier’s response stating proposed prices and other requested details. | Gives the buyer an offer to assess against the RFQ. |
| Purchase order | A separate ordering instrument that may follow evaluation. | May be used for the next ordering or contracting step; its legal effect depends on the applicable rules and circumstances. |
| RFP or tender | Other procurement document or procedure names that should not be assumed interchangeable with RFQ. | Requirements and processes vary by procurement system. |
The Ifugao form refers to delivery after the supplier receives a purchase order, showing that the quotation request and order are distinct documents in that example. In a specified U.S. federal acquisition context, the Federal Register states that the government’s purchase order is its offer and that neither the quotation nor the order by itself forms a binding contract; acceptance in writing or substantial performance forms the contract under the described process. That statement is limited to the cited federal context and should not be generalized to other transactions or jurisdictions. See the Federal Register notice.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Do RFQs have a standard legal threshold?
No single threshold or legal effect can be assumed worldwide. Ghana’s Public Procurement Authority says its standard price-quotation document is for procurement entities under the Public Procurement Act, as amended, when buying goods estimated to cost no more than GHS 100,000.00. This is the scope stated for that particular document on the authority’s page; it is not a general RFQ threshold, and it does not establish that the form is the current applicable document for every transaction.
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For a real procurement, consult the current rules and forms for the relevant buyer and jurisdiction. The available official examples establish that procedures and contract steps can differ; they do not establish a universal rule about when an RFQ or quotation becomes binding.
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