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A Request for Quotation (RFQ) is a formal document distributed by purchaser to potential vendors, requesting detailed quotes for specific goods or services. The RFQ outlines the requirements of the purchaser and provides a structure for providers to submit their bids. It often comprises information such as the product or service description, quanti

A Request for Quotation (RFQ), often shortened to RFQ, is a formal request sent by a purchaser to suppliers seeking prices on defined requirements. The RFQ provides detailed descriptions about the desired solutions, allowing suppliers to submit competitive estimates. Upon review of the submitted offers, the buyer can then select a contract to the