The Use of Quotations

Quotations are requested when the size of the requisition or proposed commitment exceeds a minimum dollar amount stipulated usually by policy in the organization of the bidder: for example, $500.00. This rule may not apply in Governmental purchases as they are required by law to perform and award a RFQ to the lowest responsible bidder. In some Industries, proposals may be requested with the intention of selecting a firm to negotiate or settle final prices with.

Depending on your organization, after a RFQ [Read more…]

When to use a RFP versus a RFQ

Using an RFP versus a RFQ:

This is a good question and one we hear often. We will try our best to give you a simple answer to help you make a determination when performing your purchasing duties.

Documents issued by the Purchasing group can be an RFQ (request for quote), RFI (request for information), RFP (request for proposal), or ITQ (invitation to quote), IFB (invitation for bid) or others.

A RFQ is usually used when the Owner knows exactly the type and quantity of goods it wants to buy, while RFP’s ask bidders to provide a solution to a problem that could be solved in different ways.

An example of when to use a Request for Quote (RFQ) is if you are buying 100 each Toshiba Laptop Computers c/w 2 GB ram, 100 GB HD, DVD Burner, Windows 7. You know your requirement and have a specification to issue with the request.

When to use an RFP, would be if you were unsure on whether to purchase, lease, rent  the same 100 computers with software and hardware requirements that may differ from PC to PC. This gives the bidders an opportunity to offer a solution to your requirement.

With the above in mind, it should be noted that evaluating a RFQ is usually easier than trying to determine an award from the results of an RFP.

Sample of Basic RFQ Template

Basic RFQ Template:

The expenditure or value of the acquisition item and the risk usually determines the amount of work and effort you put into your RFQ | RFP proposals and for that matter the whole quotation process. Sometimes, you just need a simple or basic RFQ, a one pager with some basic terms and conditions which will allow you to go out for quotes. A basic RFQ Template like RFQ19 may do the trick.

If you are looking for a simple or basic RFQ | RFP template you can use to solicit quotations, proposals this template should suffice. Keep in mind you can change the automobile specification section of the template and customize it by adding your own scope or specification for any purchase requirement.

Download free vehicle RFQ sample template >>> RFQ19 – Basic RFQ Template for Vehicle

More edit friendly RFQ Templates

Free Web Design RFQ / RFP Template

Free Web Design RFQ – RFP Template

Looking for a free sample RFP or RFQ to get you started in quoting or requesting a quotation for website design services? Just about every business needs a website and how to go about procuring the services for web design services is a challenge an everyday business owner does not need. There are must have basics every website should display and the following rfp sample should help you get started down the right path to getting your website up and running.

Download this great template for a web design RFQ / RFP template put together by NPower…

Download sample RFP document in PDF format here>>> RFP_web_sample