What is a Request for Quote (RFQ)?

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What is a Request for Quote (RFQ)?

A request for quote (RFQ) is a procurement document that you (the buyer) submits to the vendor. The RFQ requests a price from the vendor for the specified work, product, or service. As opposed to an RFP, an RFQ is a document used to draw quotes or bids, that require little negotiation, from…

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