Which of the following is a consequence of a 'Request for Quotation (RFQ)'?
A) Suppliers submit general information that may help them to qualify for a potential tender.
B) Suppliers are invited to submit a general tender.
C) Suppliers are invited to submit general information that will result in them being awarded a supply contract.
D) Suppliers are invited to submit a detailed bid which meets the requirements as laid down in the request for quotation against the lowest possible price (identical to request for tender).

Question

Which of the following is a consequence of a 'Request for Quotation (RFQ)'? 
A) Suppliers submit general information that may help them to qualify for a potential tender. 
B) Suppliers are invited to submit a general tender. 
C) Suppliers are invited to submit general information that will result in them being awarded a supply contract. 
D) Suppliers are invited to submit a detailed bid which meets the requirements as laid down in the request for quotation against the lowest possible price (identical to request for tender).

Quizplus · Accepted Answer

The consequence of a Request for Quotation (RFQ) is that suppliers are invited to submit a detailed bid which meets the requirements as laid down in the request for quotation against the lowest possible price. This is identical to a Request for Tender, except that the latter invites bids for contracts that exceed a certain threshold value. In an RFQ, the suppliers are not necessarily guaranteed an award for a supply contract based on their submission, but their responses will be evaluated based on the criteria listed in the RFQ. Option A is incorrect as qualification information is usually sought in a Request for Qualification (RFQ), which precedes the RFQ, while option B and C are incorrect as an RFQ is not a general tender or a guarantee of an award.

Which of the Following Is a Consequence of a 'Request