What is an RFQ?
An RFQ is basically a Request for Quotation sent to a Supplier or a Contractor. It can be a letter or an email.
When is it sent?
- Preparing an Estimate – when we need rates of specific jobs or materials to prepare an Estimate
- Contract finalisation – when we need to finalise a Subcontractor or a Supplier.
What does it contain?
In a Real Estate construction project, an RFQ generally contains the following items: