RFQ (Request for Quotation)
A formal procurement request sent to suppliers detailing specifications to obtain price quotes.
Term Definition
RFQ stands for Request for Quotation. Buyers outline desired product attributes, dimensional drawings, and batch quantities on sourcing marketplaces. In response, factories and vendors submit pricing and production lead times for comparison.
Usage Example
«We submitted an RFQ for 2,000 stainless steel tumblers and received quotations from five manufacturing plants.»
What we do
We help draft product specifications for Chinese factories, obtain direct quotes, and buy with 0% fee.
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Other terms in this category
MOQ (Minimum Order Quantity)
The minimum number of units a factory or supplier agrees to sell in a single purchase order.
Tiered Pricing
A wholesale pricing schedule where the unit price drops as the ordered volume increases.
Product Sample
A single test unit ordered from a factory to assess quality before committing to a bulk production batch.
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