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Investments glossary

Request for Quote (RFQ)


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Quotes of the day:

Truth may be stretched, but cannot be broken, and always gets above falsehood, as does oil above water.

— Miguel Cerbantes

A request for quote (RFQ), also known as an invitation for bid (IFB), is a process in which a company solicits select suppliers and contractors to submit price quotes and bids for the chance to fulfill certain tasks or projects. The RFQ process is especially important to businesses that need a consistent supply of a specific number of standard products. Companies may send RFQs alone or before a request for proposal (RFP).

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