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Example of Request for Quotation Template

Today’s global market requires companies to solicit bids for products and services from around the world. The average purchasing department conducts thousands of inquiries and quotations. This means that there are literally tens to hundreds of quotations conducted weekly. These kinds of numbers mandate a streamlined system and tool.

The Buyer’s job is one of stewardship, making sure that the company gets value for its purchases. To do this, the Buyer must solicit bids from several reliable sources of supply for each purchase.

Therefore, the expediency and efficiency needed support the procurement department is provided by this template allowing completion of these tasks in a timely manner.

There are two tabs to the worksheet. The first tab enables suppliers to submit their bids in a stable and consistent format. The second tab lists the ‘bid instructions,’ so Suppliers know what is expected from them when completing the bid.

The solicitation template has the following benefits:

  1. Purchasing’s ‘ease of use’
  2. Suppliers are required to provide only the information the Buyer wants on the sheet
  3. The solicitation is standardized
  4. The bid template can handle multiple part numbers in a single bid
  5. Suppliers are required to only complete specific sections on the sheet. (This allows for easier bid consolidation and review.)
  6. The solicitation has a separate tab on the worksheet that lists the ‘bid instructions’
  7. The bids, once returned, can be easily consolidated

The Request for Quotation template consists of one worksheet, two tabs, and two pages.

Request for Quotation (RFQ) Template

Once payment is received, you will receive the template within 48 hours.