request for quotation (RFQ)
A request for quotation (RFQ) is a document that an organization submits to one or more potential suppliers eliciting quotations for a product or service. Typically, an RFQ seeks an itemized list of prices for something that is well-defined and quantifiable, such as hardware. Another type of document, called a request for proposals (RFP), is customarily used when the requesting organization's requirements are more complex.
This was last updated in August 2005
