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Language Foundation

RFQ

An RFQ, or request for quotation, is a document in which a buyer asks suppliers to quote prices for specified goods or services.

In plain English

It is a formal way for a buyer to ask suppliers what they would charge for clearly described goods or services. The document states what is needed so suppliers can give prices for that specified scope.

In context

Here, RFQ denotes the document used to ask suppliers to quote prices for the specified freight services.

Situation
Coordinating freight quotes, booking, consolidation, handoff, and transport documents
What it communicates
labels a request for freight pricing.

Meaning limits

The term by itself does not establish which supplier will be chosen or that any quoted price has been accepted.

Examples

“The buyer sent an RFQ for 500 office chairs to four suppliers, but none had been chosen yet.”

Core meaning

“Several carriers received the RFQ for daily freight service between the factory and the port.”

In context

  • procurement document Broader Term

    An RFQ is one kind of document used in procurement.

  • purchase order Contrast

    An RFQ asks for prices, while a purchase order states that goods or services are being bought.