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A request for quotation ( RfQ) is a business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services. RfQ generally means the same thing as Call for bids (CfB) and Invitation for bid (IfB). [1] An RfQ typically involves more than the price per item.
Pricing can be a manual or automatic process of applying prices to purchase and sales orders, based on factors such as: a fixed amount, quantity break, promotion or sales campaign, specific vendor quote, price prevailing on entry, shipment or invoice date, combination of multiple orders or lines, and many others.
Request price quotation. Request price quotation or RPQ is a long-standing IBM designation for a product or component that is potentially available, but that is not on the "standard" price list. [1] [2] Typical RPQ offerings are custom interfaces, hardware modifications, research or experimental systems, or variable-cost items.
For example, an Apple Inc AAPL.O call option that would have expired in December 2007 at a $122.50 strike price would be displayed as APVLZ in old convention (AAPL071222C00122500 in new convention). Stock option names are written in the following format: SYMBOL + MONTH + STRIKE. SYMBOL = Option Root Symbol, normally the stock's ticker symbol.
Financial quote. A financial quotation refers to specific market data relating to a security or commodity. While the term quote specifically refers to the bid price or ask price of an instrument, it may be more generically used to relate to the last price which this security traded at ("last sale"). [1] This may refer to both exchange-traded ...
Sales quote. A sales quote allows a prospective buyer to see the costs that will be involved for desired work. Many businesses provide services that cannot have an upfront price because the costs involved can vary. This can be due to the materials used, which can differ depending on the individual needs of the customer, and the necessary manpower.
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