Can an RFQ be signed electronically?

Yes. Electronic signatures are legally binding under the ESIGN Act (15 U.S.C. ch. 96) and UETA in adopted states, provided intent, consent, attribution, and retention requirements are met.

Do vendor responses need notarization?

Generally no. Notarization is rarely required for price quotations; require notarization only if statutory or contractual conditions demand it, and verify state RON rules first.

What if a vendor submits after the deadline?

Late submissions are typically disqualified. If you accept a late bid, document the reason and apply the same rule to all vendors to avoid protest.

How should pricing tables be formatted?

Use a provided Excel or standardized PDF table with unit price, quantity, and total columns to enable automated import and fair price comparisons.

Are digital audit trails sufficient for audits?

Yes, when the platform records timestamps, IP addresses, signer identity, and version history; retain those records per applicable retention rules.

What authentication level is recommended?

Email links suffice for low-risk procurements; use SMS OTP, SSO, or KBA for higher-value contracts or where stronger signer identity assurance is needed.

Electronic Signature
Templates
Miscellaneous
Business Request for Quotes

Business Request for Quotes

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

BUSINESS REQUEST FOR QUOTES

Requesting Company: RFQ Number:

Issuance Date: Response Deadline:

RECITALS

WHEREAS, Requesting Company is seeking proposals and price quotations from qualified vendors for the goods and services described in this Request for Quotes; and

WHEREAS, a Respondent submitting a Quote (Vendor) must acknowledge and accept the terms, conditions, scope, and evaluation criteria set forth in this document, and understand that submission does not create any contract until a formal written award is executed by the Requesting Company; and

WHEREAS, Requesting Company intends to evaluate Quotes according to price, scope compliance, delivery schedule, and qualifications, and reserves the right to accept or reject any Quote in whole or in part.

SCOPE OF WORK

Provide a detailed description of goods or services required

QUOTE SUBMISSION DETAILS

Primary Contact for Questions Contact Email Contact Phone Submission Instructions

PRICING - ITEMIZED QUOTE

Respondent shall itemize costs for the Scope of Work. Provide line items below. Attach additional pages if necessary.

Line Item 1 - Description

Line Item 2 - Description

Total Quote Amount

PAYMENT TERMS

Proposed Payment Amount:

Payment Schedule (milestones, % retainers)

Late Payment Fee:

TERM AND TERMINATION

Anticipated Start Date: Anticipated End Date:

Termination Notice Period (days):

Either party may terminate for material breach after providing written notice and an opportunity to cure within the notice period specified above. Upon termination, Vendor shall be entitled to payment for work performed to the effective date of termination in accordance with the payment schedule, less any offsets or setoffs permitted by Requesting Company.

CONFIDENTIALITY

All information designated in writing as confidential by Requesting Company, as well as any non-public technical, business, or financial information disclosed in connection with this RFQ, shall be treated as Confidential Information. Vendor shall not disclose Confidential Information except as required by law and shall use it solely to prepare and submit a Quote and, if selected, to perform the resulting contract.

By checking this box, the Respondent acknowledges and agrees to the Confidentiality provisions above.

EVALUATION CRITERIA & QUALIFICATIONS

Quotes will be evaluated based on the following factors: price, adherence to Scope of Work, delivery schedule, demonstrated experience, references, and compliance with insurance and licensing requirements. Requesting Company reserves the right to waive informalities, seek clarifications, and request supplemental information from any Respondent.

Insurance and Licensing Confirmation

GOVERNING LAW & ENTIRE AGREEMENT

Governing Law: This RFQ and any resulting agreement shall be governed by the laws of the state of without regard to conflicts of law principles.

Entire Agreement: The terms and conditions contained in this RFQ together with any written award executed by Requesting Company constitute the entire agreement between the parties with respect to the subject matter and supersede all prior proposals, negotiations, and communications, whether oral or written.

REPRESENTATIONS; ACKNOWLEDGMENT

By submitting a Quote, Vendor represents and warrants that: (a) the Quote is genuine and not made in collusion or fraud; (b) Vendor has the requisite authority, licenses, permits and insurance to perform the Scope of Work; and (c) Vendor accepts the terms and conditions of this RFQ as binding upon acceptance by Requesting Company.

Additional Notes or Qualifications

RESPONDENT IDENTIFICATION

Vendor / Respondent Legal Name Vendor Address Vendor Primary Contact Vendor Contact Phone Vendor Contact Email

Requesting Company - Print Name:

By:

Date:

Vendor / Respondent - Print Name:

By:

Date:

By signing above, the signatories represent that they are authorized to bind their respective parties and that submission of this form constitutes a legal offer subject to the terms and conditions of this Request for Quotes and any subsequent written award executed by the Requesting Company.

What a Business Request for Quotes is and when teams use it

A Business Request for Quotes (RFQ) is a formal procurement document used to solicit firm price quotations for defined goods or services. RFQs focus on price and delivery for well-specified scopes of work and typically follow an earlier needs assessment or request for information. Organizations issue RFQs to multiple suppliers to compare standardized offers, follow procurement rules, and create a documented basis for award decisions. RFQs are common in purchasing, project procurement, and contract renewals where technical requirements and quantities are established in advance.

Why a clear RFQ matters for purchasing accuracy and compliance

A well-structured RFQ reduces bidder ambiguity, enables apples-to-apples price comparisons, and documents decision rationale for audits or vendor disputes. It also supports procurement fairness and recordkeeping requirements.

Who issues and responds to RFQs

RFQs are prepared by procurement teams, project managers, and contract administrators and responded to by vendors and subcontractors.

Procurement teams and buyers who need competitive, verifiable pricing to support vendor selection and audit trails.
Vendors and suppliers submitting formal cost proposals and validating lead times, warranty terms, and payment conditions.
Project managers and engineers reviewing technical compliance, delivery schedules, and line-item pricing for budget planning.

Clear role definitions and a named procurement contact reduce bidder confusion and speed the evaluation process.

Essential parts to include in a professional RFQ

A professional RFQ organizes information so vendors can respond quickly and evaluators can compare offers reliably. Include a succinct scope, precise specifications, pricing template, submission rules, evaluation criteria, and contractual terms.

Scope

Concise description of goods or services, deliverables, quantities, and acceptance criteria to prevent differing interpretations.

Specifications

Technical requirements, drawings, standards, and performance metrics that bidders must meet or document deviations against.

Pricing Table

Unit prices, extended totals, taxes, and any optional line items presented in a standardized table for direct comparison.

Submission Rules

Format, deadline (including time zone), delivery method, and contact for clarifications to ensure timely, compliant responses.

Evaluation Criteria

Weighted scoring categories (price, lead time, warranty, past performance) and minimum pass/fail thresholds for responsiveness.

Terms & Conditions

Payment terms, warranty, confidentiality, indemnity, and contract formation language that will govern the awarded purchase order.

Step-by-step: creating and issuing an RFQ

Use this sequence to prepare, publish, and evaluate an RFQ so responses are timely and comparable.

01

Prepare Scope: Draft clear specifications and attach exhibits for vendor reference.
02

Set Timeline: Define Q&A window, submission deadline, and evaluation period with explicit time zone.
03

Publish RFQ: Distribute via procurement portal, email, or shared link and record delivery method.
04

Evaluate Bids: Score proposals against published criteria and document award rationale.

Digital workflow settings for RFQ issuance and collection

Configure these workflow options in your e-procurement or document platform to automate collection and evaluation.

Field	Configuration
Authentication Method	Email link, SMS code, or KBA depending on required signer identity assurance.
Template Fields	Use required fields and conditional sections for optional line items and attachments.
Response Format	Require editable PDF or Excel pricing table to enable automated import and scoring.
Notifications	Enable confirmations to sender, procurement team, and vendor upon submission.

Where to send RFQs and how electronic submission works

Document routing determines custody and auditability; choose methods that produce tamper-evident records and timestamps.

Procurement Portal: Publish RFQ on the portal for centralized receipt and version control.
Email Delivery: Send secure email with attachment or signing link; confirm receipt and timestamp.
Secure Link: Provide a signing or upload link allowing guest submissions without account creation.
Record Keeping: Store all responses and audit trails in a single repository for compliance.

Technical and platform considerations for digital RFQs

Choose a platform that supports standard formats, strong authentication, and integration with procurement systems.

Formats Supported: PDF, DOCX, and Excel are required for attachments and pricing tables.
Integrations: Connectors for Salesforce, NetSuite, Google Workspace, and Box streamline intake and reporting.
Authentication: Email/SMS OTP, SSO, and optional knowledge-based checks for higher assurance.

Ensure chosen tools retain audit trails and support exportable signed copies for legal and procurement records.

Typical RFQ timeline elements and expected timeframes

Set clear dates to manage vendor effort and procurement scheduling; include time zone on every timestamp.

Issue Date and Start:

Date RFQ published; begins the Q&A and response window.

Vendor Q&A Period:

Often 3–10 calendar days; final answers posted before submission deadline.

Submission Deadline:

Exact date/time with time zone; late bids typically excluded.

Evaluation Window:

Commonly 7–30 calendar days depending on complexity and number of bids.

Award Notification:

Usually within 7–14 days after evaluation, subject to internal approvals.

Common mistakes that delay RFQ evaluations

Vague scope or missing specifications leading to non-comparable bids and extensive clarification cycles.
Unclear pricing instructions that omit taxes, shipping, or unit of measure, producing inconsistent totals.
Failure to name a single point of contact, causing duplicated vendor questions and conflicting answers.
Not documenting Q&A answers centrally, which creates fairness and auditability issues during vendor protests.

Risks and consequences of RFQ errors

Late Submission: Disqualification or rejection of the bid.

Misstated Pricing: Contract disputes or price adjustments post-award.

Tax Noncompliance: Backup withholding 24% for missing TINs.

Procurement Protest: Delay of award and possible re-bid.

Recordkeeping Violation: Audit findings or internal sanctions.

Incorrect Filings: IRC §6721 penalties for information return errors.

Representative eSignature vendor pricing and feature snapshot

Compare common vendor pricing and core features relevant to RFQ distribution and eSubmission. Pricing reflects typical starting tiers and public plan comparisons.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	Yes, 7-day free trial	No	No	Yes, limited	Yes, limited
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
Envelope Cap	No cap	100 envelopes/user/year	No cap	No cap	No cap

Real-world RFQ use cases and outcomes

These brief examples show how organizations used RFQs to streamline procurement and preserve audit-ready records.

Optica Ventures

Optica issued an RFQ for managed IT services to standardize vendor pricing

multiple suppliers returned line-item quotes
the purchasing team saved weeks by automating price comparison and retained full audit evidence for the award decision.

Martin Properties

A property manager used an RFQ for HVAC replacement across several buildings

vendors provided unit pricing and installation windows
the manager selected the lowest compliant bid and documented evaluation to satisfy internal controls.

Frequently asked questions about RFQs and electronic submissions

Answers to common questions about preparing, issuing, and accepting RFQs electronically to reduce errors and procurement delays.

Need help? Contact support

Can an RFQ be signed electronically?
Yes. Electronic signatures are legally binding under the ESIGN Act (15 U.S.C. ch. 96) and UETA in adopted states, provided intent, consent, attribution, and retention requirements are met.
Do vendor responses need notarization?
Generally no. Notarization is rarely required for price quotations; require notarization only if statutory or contractual conditions demand it, and verify state RON rules first.
What if a vendor submits after the deadline?
Late submissions are typically disqualified. If you accept a late bid, document the reason and apply the same rule to all vendors to avoid protest.
How should pricing tables be formatted?
Use a provided Excel or standardized PDF table with unit price, quantity, and total columns to enable automated import and fair price comparisons.
Are digital audit trails sufficient for audits?
Yes, when the platform records timestamps, IP addresses, signer identity, and version history; retain those records per applicable retention rules.
What authentication level is recommended?
Email links suffice for low-risk procurements; use SMS OTP, SSO, or KBA for higher-value contracts or where stronger signer identity assurance is needed.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now