A Request for Quotation (RFQ) is a method of soliciting offers from suppliers for customer’s requirements for suppliers or services that fit within the dollar amount for supplies or services; >$3000. This is used when the aggregate amount involved in any one transaction is relatively small. The FAR allows a RFQ for government unique items to be used for Purchase Orders (PO) that do not exceed the simplified acquisition threshold of $100,000. For commercial items, these procedures using RFQ may be used up to 5.5 million dollars. An RFQ is part of the FAR Part 13 – Simplified Acquisition Procedures.
Standard Form 18: Request for Quotation
AcqLinks and References:
- Standard Form 18 – Request for Quotation
- Website: FAR 13.302 – Purchase Orders
- Website: FAR Part 13 – Simplified Acquisition Procedures