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    RFP and an RFQ

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    What is the difference between an RFP and an RFQ?

    © BrainMass Inc. brainmass.com June 3, 2020, 9:16 pm ad1c9bdddf
    https://brainmass.com/business/business-management/rfp-rfq-173917

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    A Request for Proposal (referred to as RFP) is an invitation for suppliers, through a bidding process, to submit a proposal on a specific commodity or service. A bidding process is one of the best methods for leveraging a company's negotiating ability and purchasing power with suppliers.

    The Request for Quotation (RFQ) is used where discussions aren't required with bidders (mainly when the specifications of a product or service are already known), and price is the main or only factor in selecting the ...

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    The solution discusses what is the difference between an RFP and an RFQ.

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