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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Glossary > R

Request for Quote

A request for quotation - or RFQ - is a process during which a business requests a quote from a supplier.

This quote is in relation to the purchase of specific products or services and usually involves prices for more than one item. 

By using supplier management software, you can keep a history of all RfQs raised, storing them against the supplier record. 

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