What is a RFQ (Request for Quotation)
Thursday, April 17th, 2008RFQ is the acronym for Request For Quote or Request For Quotation. An RFQ is a request that a company tenders when they have a material or service requirement; the RFQ is basically their way of encouraging Vendors to provide a bid for their requirement. The purpose is to provide a fair evaluation for all [...]
Definition of a Request for Proposal
Thursday, April 17th, 2008A request for proposal (RFP) is basically a publication of detailed requirements by a prospective buyer in order to solicit vendor quotations. Usually dedicated to software evaluation, comparison, and selection, a request for proposal may be issued to select any kind of products (tangibles) and services (non-tangibles). The purpose of the RFP is to [...]