Request for Quotation (RFQ) Glossary - Tradogram
Request for Quotation (also referred to as an “Invitation to Quote” by the buyer)
What is an RFQ? Discover its role in obtaining price quotes and ensuring competitive procurement processes.
A request for quotation (abbreviated as RFQ - not to be confused with a request for qualification) is sent to suppliers with the expectation of receiving a bid for providing goods and/or services offered by those suppliers. On Tradogram, flexible request forms can be used to issue an RFQ to one or more suppliers. The RFQ can be used to establish contract arrangements or one time transactions with one or more of the involved suppliers.
