Request for Quotation (RFQ)
Definition
A Request for Quotation (RFQ) is a formal document issued by a general contractor or client inviting subcontractors or suppliers to submit a price for a defined package of work or supply of materials. Unlike an RFP, an RFQ implies the scope is largely defined and the primary variable being sought is cost.
In construction tendering, this means...
In construction tendering, RFQs are typically sent to a shortlist of approved subcontractors for each trade package. The quality of an RFQ directly determines the quality of the quotes received: vague RFQs produce prices that are impossible to compare fairly. Takshy automates the extraction of scope items and the generation of structured, consistent RFQs from project documents.
Takshy automates the parts of the tendering process that involve request for quotation (rfq), extracting scope, managing documents, and keeping your workflow organised from first document to final award.
Automate your tendering with Takshy
Understanding the terminology is step one. Takshy handles the rest, from extracting scope from project documents to sending structured RFQs and managing the returns.
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