Glossary term
Request for Quotation (RFQ)
A solicitation asking vendors to quote prices, typically used in simplified acquisitions.
An RFQ requests a quotation rather than an offer. Critically, a quotation is not an offer that the government can simply accept to form a contract — the government's purchase order is the offer, and the vendor's acceptance forms the contract. RFQs are common under simplified acquisition procedures and for GSA Schedule buys.
Categories
- solicitation
Related terms
- RFP (Request for Proposal)A formal solicitation inviting contractors to submit detailed technical, management, and price proposals.
- Request for Information (RFI)A market research notice asking industry for information; it is not a solicitation and no award results from it.
- Simplified Acquisition Threshold (SAT)The dollar ceiling below which agencies may use streamlined procedures instead of full FAR Part 15 competition.