Why are RFQs Used?
When the government is searching for the possibility of acquiring a new product or service, a Request for Quotation (RFQ) may be issued. When the government doesn’t intend to award a contract due to solicitation, but wants to have a price, delivery, or additional information for planning purposes, an RFQ may also be used.
When negotiating procurement’s to prospective contractors, Requests for Quotations (RFQs) could also be utilized to communicate what the government’s requirements are. However in other cases, the government cannot accept a quotation received in response to an RFQ as it is not a binding offer.
A contract can be established when a supplier accepts the offer when the order is an offer by the government to buy certain supplies or services. After various quotations have been reviewed and received on the proposed purchase, further negotiations may be conducted by contracting officers with the firms that have submitted acceptable proposals to assure the contract is beneficial for the government.
At PartsBase, we use an impressive tool called Bid Match which has the ability to search anything regarding to the Department of Defense and their activity, including RFQs and RFP’s. When opportunities arise, Bid Match makes sure you get the RFQ’s you deserve.
RFQ View from the Buyer’s Site Navigation Bar:
- Search for Parts
- Review Activity of Active RFQs
- Search for RFQ
Managing Your Procurement
PartsBase allows buyers to have the capability of entering the quantity of parts they are looking for in the RFQ box. Every listing they enter an RFQ quantity for will automatically generate a Request for Quote according to their specifications. When the buyer has chosen all the companies they wish to send the RFQ in, they can click the VIEW RFQ at the bottom of the listings. Buyers may print this page for their records. There is also a space to enter lead-time and comments.
Buyers have the option to email the RFQ with a click of a button or print fax ready copies. To view on-line quotations, buyers can click RFQ’s on the menu bar providing a folder for both RFQ’s that have quotes and those that do not. For more information on managing RFQs on PartsBase, visit our website or give one of our reps a call at (561) 953-0700 ext. 2114