Request for Quotations (RFQ) is the official document procurement professionals use to query a vendor or supplier and request prices for goods and services. RFQs save time by ensuring suppliers provide comprehensive quotes and accurate information, while helping buyers compare offers side-by-side. By providing clear descriptions and expectations of the goods/services required, RFQs help create an efficient bidding process that achieves cost savings and greater supply chain transparency. So whether you’re looking for the lowest price on office supplies or the best quality for a large construction project, an RFQ can make sure you get exactly what you need.