A request for quotation $($RFQ$)$:

signals the purchaser has identified a supplier as a potential source of supply and asks for information.

asks the supplier to declare at what price and what terms they are prepared to supply.

permits the supplier to fit the specifications for supply to its strengths.

signals the purchaser has identified a supplier as a potential source of supply and asks for information, and asks the supplier to declare at what price and what terms they are prepared to supply.

asks the supplier to declare at what price and what terms they are prepared to supply and permits the supplier to fit the specifications for supply to its strengths.