Business Pitch Dictionary by pitch.dog
RFI, RFP, RFQ & tender documents · Core

Request for quotation

Also called: RFQ

ELI5

A request for prices and commercial terms for a sufficiently defined requirement.

Used in conversation

“The team needs one controlled copy of request for quotation, with an owner and date.”

Pitch context

You will see “Request for quotation” in operating plans, procurement packs, supplier reviews and supply-chain reports when the discussion reaches rfi, rfp, rfq & tender documents.

Why it matters: In rfi, rfp, rfq & tender documents, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

Connected terms

  • Request for proposalAn RFP evaluates approach and solution; an RFQ primarily asks for price against a sufficiently defined requirement.
Sources & evidence · 3

Direct term-level sources and supporting source families.