What Is a Request for Quote (RFQ)? 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 ...

The agencies want to ensure that they get the lowest and most competitive bid. However ... RFI A request for proposal (RFP), request for quote (RFQ), and request for information (RFI) are three ...