A formal procurement document inviting suppliers to submit a price quotation for clearly defined goods or services where the requirements and specifications are already established. RFQs are typically used for commodity or standard products and services, with price being the primary evaluation factor.
Request for Quotation (RFQ)
A formal document inviting price quotations for clearly defined goods or services, with price as the primary evaluation factor.
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Related Glossary Terms
The official compilation of permanent U.S. federal laws, providing the statutory basis for many contracting requirements.
A global classification system used to categorize products and services for procurement and spend analysis.
A unique 12-character identifier assigned via SAM.gov to organizations doing business with the federal government, replacing the DUNS number.
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