Quote Request Form

When a soliciting company knows exactly what quantity and quality of services it needs, it will ask for a request for quote template from different vendors known as bidders. Companies would utilize an RFQ template to acquire off-the-shelf services or products. The use of such a document would allow the soliciting company to compare different bids from a wide range of suppliers easily.

When needed, a soliciting company will send a request for quote to many vendors requesting to give their pricing bids. For instance, a company wants to purchase 300 computers with specific processing speeds and hard drive sizes.

The company would then have to make an RFQ template and send it to different suppliers. Since they need a specific type of product, it’s easier for them to compare the quotes that they receive from the bidders.

Typically, a request for quote template contains four sections. It includes the terms of payment, the factors which will influence the selection of the bid, a deadline for the submission of the bid, and other relevant information needed for the bid consideration. After considering all of the quotes given by the vendors, the soliciting company will award the contract to the rightful vendor.