What Is an RFQ? Request for Quotation Explained (+ How to Respond)
By QuotApp Team · August 2, 2026
An RFQ (request for quotation) is a formal document a buyer sends to suppliers asking for priced bids on a clearly defined scope of goods or services. Because the buyer specifies exactly what they need — quantities, specs, delivery terms — suppliers compete primarily on price, lead time and reliability.
RFQ vs RFP vs RFI
| Document | Buyer is asking… | Best when |
|---|---|---|
| RFI (Request for Information) | “What’s possible? Who does this?” | Early research, building a vendor list |
| RFP (Request for Proposal) | “How would you solve this, and at what price?” | The solution itself is open-ended |
| RFQ (Request for Quotation) | “What’s your price for exactly this?” | Specs are fixed; price is the main variable |
What a typical RFQ contains
Item specifications and quantities, delivery date and location, payment and warranty terms, the deadline for submitting your quotation, and the format the buyer wants responses in. Government and enterprise RFQs often add compliance requirements and standardized pricing tables.
How to respond and win
- Answer in their format. If the RFQ includes a pricing table, fill in that table. Creative formatting reads as “didn’t follow instructions.”
- Quote exactly the spec — then alternatives separately. If you can do it cheaper with a different material, add it as a clearly labeled option, never as a substitution.
- Be explicit about validity and lead time. “Price valid 30 days; delivery 3 weeks from PO” beats vague promises.
- Don’t leave blanks. An unanswered line item usually disqualifies the whole bid.
- Meet the deadline with room to spare. Late RFQ responses are typically discarded unread.
Responding to informal RFQs
Most small-business “RFQs” are simply an email that says “can you quote me for…?” The rules are the same: restate the scope so misunderstandings surface now, itemize your pricing, state validity, and make accepting easy. The free QuotApp quote maker produces a clean, itemized quotation you can attach to any RFQ response — or start from a quotation template.