SuanSupply

What is an RFQ? Meaning, template and RFQ vs RFP

An RFQ (request for quotation) is a request a buyer sends to suppliers asking for a price and terms for a specific product and quantity. Here's what to put in one, a free template in English and Chinese, and how RFQs differ from RFPs and RFIs.

Last updated: · 7 min read

The short version

  • RFQ means request for quotation (or request for quote): a message a buyer sends to suppliers asking for a price and terms for a specific product and quantity.
  • The supplier's answer is a quotation (报价单). In China trade, an RFQ is often called 询价 (xúnjià, "asking for a price").
  • RFQ vs RFP: use an RFQ when you know exactly what you want and are comparing prices. Use an RFP when you want suppliers to propose how to solve a problem.
  • A good RFQ gives specs, quantities, packaging, Incoterm and port, and a reply date, so every quote you get back can be compared line by line.

What does RFQ mean?

RFQ stands for request for quotation. It's how a buyer asks one or more suppliers, "what would you charge to make or supply exactly this?" You describe the product, the quantity and the terms you want, and each supplier replies with a quotation: a unit price, plus details like minimum order, lead time and payment terms.

Small importers use RFQs every time they ask a factory for a price. Alibaba.com even runs an RFQ marketplace, where, in Alibaba's words, "prospective buyers post descriptions of products they need, and sellers respond with a quote for the request."

RFQRequest for quotation: you ask for a price
QuoteThe supplier's price and terms (报价单)
POPurchase order: you commit to buy

How does the RFQ process work?

  1. Write one RFQDescribe the product, quantities, packaging, Incoterm and port, and any certifications. Use the same RFQ for every supplier.
  2. Send it to 3 to 5 suppliersDirectly, through Alibaba messages, or as an RFQ post on Alibaba.com that suppliers answer.
  3. Collect the quotationsPut them side by side: unit price, MOQ, lead time, sample cost, payment terms and carton details.
  4. Compare total cost, not unit priceAdd freight, duties and fees to get the landed cost per unit for each quote.
  5. Order samples, then place a POShortlist one or two suppliers, check samples, then confirm the order with a purchase order and the supplier's proforma invoice (PI).

What should an RFQ include?

The more precise your RFQ, the more comparable the quotes. Vague requests get vague prices, or a low headline price that grows once the details come out.

IncludeDetails and why it matters
Product and specsMaterial, size, color, weight, logo, plus a photo or link. Suppliers price what you describe, and missing details get the cheapest option.
QuantitiesTwo or three tiers, for example 500 / 1,000 / 3,000. Shows how the price drops with volume and where the MOQ sits.
PackagingPolybag, retail box, labels, barcodes. Packaging can add a lot per unit and changes carton size.
Incoterm and portFor example FOB Ningbo. Without it, one supplier quotes EXW and another FOB, and the prices aren't comparable.
CertificationsThe testing your market requires. It costs money, so ask now, not after you've picked a supplier.
SamplesSample cost and lead time. You'll want samples before a first order.
Terms and cartonsPayment terms, production lead time, carton size and weight. You need them for cash flow, launch dates and freight quotes.
Reply date and validityKeeps the process moving, and tells you how long the price holds.

Our Bilingual RFQ Builder turns these fields into a clean RFQ in English and Chinese, ready to send. Pay once, no account, and it runs in your browser.

See the RFQ Builder

What does an RFQ look like? A free RFQ template

Copy this RFQ and fill in the brackets. The Chinese version says the same thing, so a supplier's sales team can read it without guessing.

English
Hello [supplier name],

My name is [your name] from [company], a [type of business, e.g. Amazon seller] based in [country]. We would like a quotation for the product below.

Product: [product name] (reference: [link or photo])
Specifications: [material, size, color, weight, logo]
Quantities: please quote 500 / 1,000 / 3,000 units
Packaging: [e.g. individual polybag, printed retail box]
Price terms: FOB [port], Incoterms 2020
Certifications: [e.g. CPC, CE, or delete this line]

Please also include:
- MOQ and production lead time
- Sample cost and sample lead time
- Payment terms
- Carton size, units per carton and gross weight
- How long the quotation is valid

Please reply by [date]. Thank you.

Best regards,
[your name]
中文 Chinese
您好,[联系人]:

我是[公司名称]的[姓名],我们是一家位于[国家]的[业务类型,例如:亚马逊卖家]。现就以下产品向贵司询价:

产品:[产品名称](参考:[链接或图片])
规格:[材质、尺寸、颜色、重量、Logo]
数量:请分别报价 500 / 1,000 / 3,000 件
包装:[例如:独立OPP袋、印刷彩盒]
贸易条款:FOB [港口],Incoterms 2020
认证要求:[例如:CPC、CE,如不需要请删除]

请一并告知:
- 最小起订量(MOQ)及生产交期
- 样品费用及打样时间
- 付款方式
- 外箱尺寸、每箱数量及毛重
- 报价有效期

请于[日期]前回复。谢谢!

[姓名]

Want more? Our free Alibaba supplier message templates cover samples, negotiating and confirming an order.

What is the difference between an RFQ, RFP and RFI?

All three are requests to suppliers, and the terms come from formal purchasing. US federal buying rules draw the lines clearly: an RFP is used to "communicate Government requirements to prospective contractors and to solicit proposals", while an RFI is for when a buyer "does not presently intend to award a contract, but wants to obtain price, delivery, other market information, or capabilities for planning purposes." An RFQ asks for a price on something already defined.

RFIRFQRFP
Stands forRequest for informationRequest for quotationRequest for proposal
You askWho can do this, and roughly how?What's your price for exactly this?How would you solve this, and for how much?
Use it whenYou're still researchingYou know the specs and want to compare pricesThe solution itself is open
Compared onCapabilitiesMostly price and termsApproach, quality and price together
Typical for importersFinding factories for a new productAlmost every orderCustom product development (ODM)

For most small businesses buying from China, the RFQ is the one you'll use. An RFP makes sense when you want a factory to design or develop a product for you.

Is a quotation binding?

Usually, not on its own. In US government buying the rule is written down: "A quotation is not an offer and, consequently, cannot be accepted by the Government to form a binding contract." The contract forms when the buyer places an order and the supplier accepts it. In private deals it depends on the wording and the law that applies, so don't rely on a quote alone.

Before you pay

With Chinese suppliers, lock in the deal with a purchase order that repeats the specs, price, Incoterm, packaging and lead time, and check that the supplier's proforma invoice (PI) matches it before you pay a deposit. Note the quote's validity date: prices on raw materials and freight change often.

How do you compare supplier quotations?

Put every quote in one table and compare on the same basis. Here's an illustrative example for 1,000 units, all asked for FOB Shenzhen:

Supplier ASupplier BSupplier C
Unit price$3.95$4.20$4.35
Quoted termEXW (not what we asked)FOB ShenzhenFOB Shenzhen
MOQ1,0005001,000
Sample cost$60$35, refunded on orderFree
Lead time35 days25 days30 days
PackagingBulk carton onlyPolybag + barcode labelRetail box

Illustrative example, not real quotes.

Supplier A looks cheapest but quoted EXW and bulk packing, so trucking, export clearance and packaging still need adding (see FOB vs EXW). Supplier B has the lowest MOQ and fastest lead time. Supplier C includes a retail box. The way to settle it is landed cost per unit: run each one through the free landed cost calculator.

How do you get better quotes?

Send professional RFQs in English and Chinese

The Bilingual RFQ Builder asks for every detail in this guide and writes the RFQ for you in both languages. Pay once, no subscription, no account, and your data stays on your device.

Frequently asked questions

What does RFQ stand for?

RFQ stands for request for quotation, sometimes written request for quote. It's a request a buyer sends to suppliers asking for a price and terms for a specific product and quantity.

What is the difference between RFQ and RFP?

An RFQ asks for a price on something you have already defined, and quotes are compared mostly on price and terms. An RFP asks suppliers to propose how they would meet a need, and proposals are compared on approach, quality and price together.

What is the difference between an RFQ and a quote?

The RFQ is the buyer's request. The quote, or quotation, is the supplier's answer with the price and terms.

What should be included in an RFQ?

Product specifications, quantities (ideally two or three tiers), packaging, the Incoterm and port, required certifications, sample requests, payment terms, carton details, a reply date and how long the quote should be valid.

Is an RFQ binding?

No. An RFQ is only a request. A quotation usually isn't binding on its own either: the deal is normally locked in with a purchase order and, with Chinese suppliers, a matching proforma invoice.

What is RFQ in Chinese?

An RFQ is usually called 询价 (xúnjià) or 询价单 (xúnjiàdān), and the supplier's quotation is 报价单 (bàojiàdān).

How many suppliers should I send an RFQ to?

Three to five is a practical number for a small importer: enough to see the price range and spot outliers, without drowning in follow-ups.

Quotes from the Federal Acquisition Regulation describe US government purchasing and are used here to define the terms. Prices in the comparison are illustrative, not real quotes. General information, not legal advice. SuanSupply is not affiliated with Alibaba.com or any government agency.