A request for quotation (RFQ) is how a buyer asks suppliers to price a defined list of goods or services. A clear, consistent RFQ makes quotes directly comparable, speeds up evaluation and protects you from scope gaps and hidden costs. This free Excel template gives you a ready-made structure — buyer details, itemised specifications, quantities, target pricing and commercial terms — so you can issue a professional RFQ without building a spreadsheet from scratch.
Why a standard RFQ template matters
When every supplier replies in their own format, comparing quotes becomes slow and error-prone. A standardised RFQ forces consistent line items, units and terms, so you can line quotes up and evaluate them on the same basis.
It also reduces back-and-forth. By stating specifications, quantities, delivery expectations and payment terms up front, you get complete quotes the first time instead of chasing missing details.
How to use this RFQ template
Work through the template top to bottom:
- Fill in your organisation, contact person, RFQ number and the quotation deadline.
- List each item with a clear description or specification, quantity and unit of measure.
- Set a target unit price where you have a benchmark — leave the quoted-price column for suppliers.
- State your payment terms, delivery requirements and how long quotes must stay valid.
- Send the same file to each shortlisted supplier, then paste their prices back in to compare.
RFQ best practices
Be specific about specifications and acceptable equivalents — vague descriptions invite non-comparable quotes. Always request pricing inclusive of delivery to your site so you compare total landed cost, not just unit price. Give suppliers a realistic response window, and record the reason for your final selection for audit purposes.
Download the Request for Quotation (RFQ) Template
Free, editable Excel (.xlsx). Complete the form above and your download starts instantly.
Common questions
What is an RFQ template?
An RFQ (request for quotation) template is a reusable form that structures how you ask suppliers to price a defined list of goods or services — with consistent line items, quantities and commercial terms so quotes are directly comparable.
Is this RFQ template free?
Yes. The Excel RFQ template is free to download and edit. Just enter your work email above and the file will download automatically.
What format is the RFQ template in?
It is a Microsoft Excel (.xlsx) file with no locked cells. It also opens in Google Sheets and LibreOffice Calc.
When should I use an RFQ instead of an RFP?
Use an RFQ when your requirement is well-defined and price is the main variable. Use an RFP (request for proposal) when you need suppliers to propose a solution, not just a price.
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