Request for Quotation (RFQ)
A procurement document a buyer issues to invite suppliers to submit price quotations for clearly specified goods or services.
An RFQ is used when requirements are well defined and the primary selection factor is price. It lists exact quantities, specifications, and delivery terms so quotes are directly comparable.
RFQs differ from RFPs in that they assume the buyer already knows what they need and is mainly comparing commercial terms rather than proposed solutions.