The short answer
An RFQ is a written request that tells suppliers exactly what you want to buy and asks them for price, minimum order quantity, lead time, samples and payment terms. Send the same RFQ to several suppliers, then compare the answers in one table.
What is an RFQ?
RFQ stands for request for quotation, also called a request for quote. It is the message you send a supplier to ask what they would charge for a defined product, in a defined quantity, on defined delivery terms. The reply is a quotation.
An RFQ is not a purchase order. It does not commit you to buy. It is the step before you place an order, and it is how you make quotes comparable.
RFQ vs RFP vs RFI
| Term | Stands for | Use it when |
|---|---|---|
| RFQ | Request for quotation | You know exactly what you want and need prices and terms. |
| RFP | Request for proposal | You need suppliers to propose a solution, not only a price. |
| RFI | Request for information | You are still learning what suppliers can offer. |
For buying products from factories and wholesalers, an RFQ is usually the right choice.
What to include in an RFQ
- Product details. Name, material, size, colour, standards or certifications, and photos or a reference sample.
- Quantity. The first order quantity and, if you can, the expected yearly volume. Ask for prices at two higher quantities.
- Delivery terms. The Incoterm and the named place, for example FOB and the port, so every supplier prices the same thing.
- Packaging and labelling. Carton sizes, retail packaging, barcodes, branding and any language requirements.
- Timeline. When you need samples and when you need the goods.
- Questions for the supplier. MOQ, lead time, sample cost, payment terms, certifications and export experience.
- Reply deadline. A date by which you need the quote, so you can compare all suppliers together.
RFQ email template
Copy this into an email or a Word document and replace the text in square brackets.
Subject: Quotation request - [product name], [quantity] Hello [supplier name], We are looking to buy [product, material, size, colour] for [destination country]. - First order quantity: [quantity] - Expected yearly volume: [volume] - Delivery terms: [FOB / CIF / EXW] [port or place] - Packaging and labelling: [details] - Needed by: [date] - Reference photos or specification: attached Please reply by [date] with: 1. Price per unit at [quantity] and at two higher quantities 2. Minimum order quantity (MOQ) 3. Lead time for samples and for production 4. Sample cost and shipping cost 5. Payment terms 6. Your certifications and export experience 7. Whether you are the manufacturer or a trading company Thank you, [name, company, phone / WhatsApp]
RFQ comparison sheet for Excel
Use a spreadsheet to compare the replies. Make one row per supplier, with these columns:
| Column | What to record |
|---|---|
| Supplier and contact | Company name, person, country, WhatsApp or email. |
| Manufacturer or trader | Whether they make the product themselves. |
| Unit price at each quantity | Three price columns, for your quantity and two higher quantities. |
| MOQ | The smallest order they accept. |
| Incoterm and place | For example FOB Karachi. Check all rows use the same term. |
| Sample cost and lead time | Plus shipping. |
| Production lead time | From confirmed order to goods ready to ship. |
| Payment terms | Deposit, balance, letter of credit and so on. |
| Certifications | Standards relevant to your product. |
| Notes | Response speed, clarity, and any concerns. |
A blank sheet with these columns is all you need. Fill it in as quotes arrive, then shortlist the best two or three.
How to compare quotes
- Check each quote is for the same specification, quantity and Incoterm before you compare prices.
- Compare the landed cost: unit price plus freight, insurance, duties and taxes.
- Look at MOQ, lead time and payment terms together with price, not price alone.
- Be careful with a quote that is much lower than the rest. Ask what is different in materials, finish or packaging.
- Ask your two or three best suppliers for samples before you decide.
Common RFQ mistakes
- Vague specification. Without photos, sizes and materials, suppliers guess and quotes cannot be compared.
- No Incoterm. One supplier quotes ex works and another quotes delivered, so the prices mean different things.
- Only asking for one quantity. You miss the price breaks that help you decide the first order size.
- Asking only one supplier. One quote gives you nothing to compare it with.
Frequently asked questions
What is an RFQ template?
An RFQ template is a ready-made request for quotation that you fill in with your product details and send to suppliers. It makes sure you ask every supplier the same questions, so you can compare their quotes.
What does RFQ stand for?
RFQ stands for request for quotation, also called request for quote. It is a written request asking a supplier for the price and terms for a defined product and quantity.
What should an RFQ include?
Product specification, quantity, delivery terms (Incoterm and place), packaging and labelling, timeline, the questions you want answered (price, MOQ, lead time, samples, payment terms, certifications) and a reply deadline.
Is an RFQ the same as a purchase order?
No. An RFQ asks for a price and does not commit you to buy. A purchase order is the document you send after you accept a quote, and it is a commitment to buy.
What is the difference between RFQ, RFP and RFI?
An RFQ asks for a price on a defined product. An RFP asks suppliers to propose a solution. An RFI asks for general information. For buying products from a factory or wholesaler, an RFQ is usually the right request.
How many suppliers should I send an RFQ to?
Send it to five to ten suppliers that match your product, and expect a few to reply. Verify the best two or three and request samples from them.
Can I use an RFQ in Excel?
Yes. Send the request by email or Word, and use an Excel sheet to compare the replies, with one row per supplier and columns for price at each quantity, MOQ, Incoterm, lead time and payment terms.
How long should I give suppliers to reply?
A few business days is normal. State a clear reply date in the RFQ, so you can compare all quotes at the same time. Suppliers that do not reply or answer vaguely are showing you how they will behave later.