Request for Quotations
Business Document | January 2020
This document guides borrowers on the procedure for undertaking Request for Quotations (RFQ) as a procurement method, in accordance with the Procurement Regulations for ADB Borrowers (2017), paras. 2.10 to 2.13. It is considered as a local procurement method conducted within a borrowing member country, although foreign suppliers/contractors from other ADB member countries have the right to offer quotations in an RFQ procedure. RFQ is intended to be a simple and rapid procurement method, where the Purchaser’s or Employer’s requirements are likewise simple and straightforward. The method, however, is considered one of the least competitive procurement methods.
Request for Quotations (RFQ) is a procurement method based on comparing price quotations obtained from several suppliers (in the case of goods), from several service providers (in the case of services), or from several contractors (in the case of civil works).
The RFQ document shall provide adequate information in order for invited suppliers or contractors to offer competitive quotations. At the minimum, the document shall indicate the description and quantity of the goods, a description of the services or specifications of works, as well as desired delivery (or completion) time and place. Quotations may be submitted by electronic means, letter, or facsimile.