Definitions for "Request For Quotation"
Keywords:  rfq, quotation, rfp, invite, bid
an RFQ is normally sent out when a requisition is received for goods and services valued at less than $25,000. The bid documents are kept simple so that the contract can be awarded quickly.
Invitation to suppliers to bid on relatively short-term projects or inexpensive products. As with RFPs, RFQs can be posted on potential purchaser or lead generation Websites.
Often used synonymously with RFP, but may involve a final price quotation request for a precise set of requirements.
a purchasing document which sends a request to all potential vendors to make a quote for materials or services they provide
Buying procedure for purchase of goods and materials estimated to cost in excess of direct buy limitation. See University of Washington Policies & Procedures, Purchasing Department, Procedure 7.3.5.
equivalent to a request for proposal but with more specific application areas.
A request for market information by the government, used for planning purposes.
Keywords:  information
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