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What Does Request A Quote Mean

oboloo Glossary

What Does Request A Quote Mean

In procurement, “Request a Quote” means to initiate the process of obtaining a quotation from a vendor or supplier regarding goods or services that may be purchased. This process consists of submitting an inquiry to the supplier, detailing what will be purchased, any relevant specifications, and when products or services should be delivered by. The quote is then returned to the purchaser who can decide whether to accept it as is, negotiate for better terms or conditions, or reject it for another potential vendor. By requesting quotes from multiple vendors, purchasers can get the best possible deal with the most advantageous terms.

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