RFQRequest for Quotation
A solicitation used to obtain price quotes from vendors for clearly defined commercial supplies or services, typically evaluated primarily on price.
Related Terms
RFP
A formal solicitation document issued by a government agency requesting vendors to submit detailed proposals for a specific requirement, evaluated on technical merit and price.
RFI
A pre-solicitation document used by government agencies to gather market information, assess industry capabilities, and refine requirements before issuing a formal solicitation.
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