The Request for Quotation (RFQ) is a Microsoft Word/Excel document, which is use for sending a written request for a product or service to a service provider company. Looking some computer price, store and other retailers? You can use this template for manufacturer to whole seller and sales and service center.
It is also called a “Request for Proposal” or RFP. It includes brief description of (product, time and date of deliverance of product, name and logo of the company). Whose products you have order, and other details, which the service provider company wants to mention depending upon its rules.
Purpose of a Request for Quotation Template:
A common RFQ has some objectives that are mention in below points:
- An RFQ acts as a bid or order for products and services of a company.
- It offers Leverage to a vendor in the competitive market of vendors.
- It ascertains that all stakeholders gain their respective interests.
- It provides complete control of sales process to the vendor.
- It establishes basis of relationships between clients and vendors.
Segments of an RFQ:
A common RFQ has some segments which allow the vendor to record specific details of product deliverance on it. Here are a few necessary segments that an RFQ contains:
Check out some sample of excel quotation template in professional editable format.
The (date, time, and assign deadline) of the product delivery is mention with brief description in this section. It also includes the name and contact of the vendor as well as of the person who receives the product. Any comments made by the product recipient can also be mention.
This section contains the introduction of the product along with summary of the product dealings that took place between the vendor and product recipient. Moreover, the introduction of the service provider or vendor is also mention in this section.
This section contains the implied stipulations of deliverance of products and services. For most of the products, it is the lengthy section of an RFQ. The requirements of acquiring the product or service are also mention. Vendor’s decisions for certain ordering specifications are also mention in this section. Licensing and relates implications are also written.
This section contains summary of the business and the milestones which the company is pursuing and those which the company is aiming to achieve. Technical requirements and attributes of the product and services are also mention. The functioning of the software and hardware sources and their requirements are also inscribe for some of the tech corporate companies.
This section contains description of assume or possible failures of the product that is being deliver. The expiry details and relates implications are also written.
Terms and Conditions
The terms and conditions relates to warranties, penalties, contract, financial, and other aspects of the business of the company and product or service deliverance are mention in this section. Options for renewing the order are also mention.
The vendor is require to deliver the RFQ document along with deliverance of the product/service or before deliverance of the product/service to the recipient. The vendor, himself, should also have a copy of the deliver Request For Quotation template document so that a record of product deliverance should reside with him.