What is a RFQ (Request for Quotation)?
Also known as: Request for Quotation, Request for Quote
A request for quotation (RFQ) is a solicitation in which the government asks vendors to quote a price for goods or services, usually for commercial items or buys under simplified acquisition procedures. A quote is an offer the government may accept, but technically it is not a binding offer in the way a bid is.
When RFQs are used
RFQs are common for commercial products, GSA Schedule orders, and purchases under the simplified acquisition threshold. They are faster and less formal than RFPs.
Awards from an RFQ are often based on price and a few simple factors, though best-value tradeoffs can still apply on Schedule and IDIQ orders.
Frequently asked questions
Is a quote a binding offer?
Generally no. A quote is informational — the government's purchase order is the offer, which the vendor then accepts. This differs from a sealed bid under an IFB, which is a binding offer.
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