Quotation Request Definition
A quotation request is a formal document that a company uses to request a quote from a supplier. The request includes information about the products or services the company needs, as well as the quantity and delivery timeline. The company may also include other specifications, such as preferred payment terms.
The purpose of a quotation request is to get the best possible price for the products or services that the company needs. To do this, the company compares the prices and terms offered by different suppliers. The supplier with the most favourable price and terms is then awarded the contract.
If you are a supplier who regularly receives quotation requests, it is important to respond promptly and provide a competitive quote.
