← Glossary · procurement
Request for Quote (RFQ)
A short-form procurement document asking vendors to quote price for a clearly defined product or service, typically without proposing alternatives.
RFQs differ from RFPs in scope. RFP says "here is our problem, propose a solution." RFQ says "here is the product we want, give us a price." RFQs are appropriate when the buyer already knows exactly what they want and is comparing prices. Most software RFQs are about volume discounts or multi-year commit pricing.