RFQ Template (Request for Quote)
For purchases where you already know exactly what you need and just want to compare price and delivery terms across a few vendors, no lengthy proposal process required.
RFQ Template
Buyer info, a specifications table, required commercial terms, evaluation criteria, and clear submission instructions.
Why an RFQ isn't just a shorter RFP
It's tempting to think of an RFQ as "the quick version" of a request for proposal, but they're actually built for different situations. An RFP asks vendors to propose an approach, useful when you're evaluating capability and methodology, not just price. An RFQ assumes you've already defined exactly what you want; you're purely comparing what different suppliers will charge to deliver it. Using the wrong one wastes everyone's time: an RFQ for genuinely uncertain scope gets you quotes that don't actually match what you end up needing, and an RFP for a simple, well-defined purchase just slows down a decision that didn't need that much process.
- Buyer information and RFQ issue/due dates
- A specifications table for items, quantities, and units of measure
- Required commercial terms, delivery location, dates, payment terms, quote validity
- Evaluation criteria stated upfront, so vendors know what you're weighing
- Clear submission instructions
Getting quotes you can actually compare
The single biggest reason RFQ responses end up impossible to compare is vague specifications, if two vendors interpret your requirements even slightly differently, their quotes aren't really quoting the same thing. Be as specific as you can on quantities, units, and any required specs before sending this out, and send it to at least a few vendors rather than one, so you're seeing an actual price range rather than a single number with no context.
If you're not sure whether your purchase actually needs a full sourcing process like this at all, our sourcing vs procurement guide covers when formal solicitation is worth the effort and when it isn't.
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Common questions about this template
Use an RFQ when the item or service is well-defined and price/delivery terms are the main comparison points. Use an RFP instead when you need to evaluate a vendor's approach, methodology, or capability, not just their price.
Three is a common, practical minimum, enough to see a real price range without spending excessive time managing responses.
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A Word (.docx) document that opens in Microsoft Word, Google Docs, or LibreOffice Writer.