Request for Quote (RFQ) Template
Request and compare supplier pricing for clearly defined goods or services using consistent specifications, quantities, delivery requirements and commercial terms.
Created by experienced project management professionals for buyers, procurement teams and project managers who need comparable supplier quotations.
$14.95 • Excel (.xlsx) • Editable • Download within 30 days of order confirmation
What's Included in the Request for Quote (RFQ) Template?
Request and compare supplier pricing for clearly defined goods or services using consistent specifications, quantities, delivery requirements and commercial terms.
RFQ Administration
Buyer, contact, dates, quote validity, delivery location and currency.
Line-Item Schedule
Item/service, specification, quantity, unit and supplier unit price.
Automatic Totals
Calculate line totals, subtotal, tax/other charges and grand total.
Delivery & Lead Time
Capture lead time, required delivery date and supplier delivery commitment.
Warranty & Compliance
Document warranty and specification deviations.
Commercial Terms
Record payment terms, freight/shipping, substitutions, evaluation criteria and submission instructions.
Built for Practical, Real-World Use
The workbook goes beyond a simple price list by structuring specifications, quantities, lead times, warranty, compliance, commercial terms and automatic totals so supplier quotes can be compared on the same basis.
Structured and Reusable
Use a consistent framework across projects instead of rebuilding the document or tracker from scratch.
Designed for Accountability
Capture owners, decisions, evidence, dates or follow-up where the template's purpose requires them.
Built for Governance
Support project reviews, stakeholder alignment and traceable decisions with a professional working format.
Request for Quote (RFQ) Template Example Snapshot
A simple example shows the level of detail the template is designed to capture.
| Template Element | Example Entry |
|---|---|
| Item | 25 software licenses |
| Quantity | 25 |
| Unit price | $100 |
| Line total | $2,500 |
| Lead time | 5 business days |
| Compliance | Meets specification |
What Is a Request for Quote (RFQ)?
A Request for Quote is used when requirements are sufficiently defined and buyers primarily need suppliers to provide comparable prices, delivery commitments and commercial terms.
When Should You Use This Template?
Defined Goods
Request prices for known specifications and quantities.
Defined Services
Compare rates for a clearly scoped service.
Project Purchasing
Source equipment, licenses, materials or subcontracted work.
Supplier Comparison
Compare price, lead time and commercial conditions.
Repeat Purchases
Standardize recurring quote requests.
Budget Validation
Collect current market pricing for defined requirements.
Who Is This Template For?
Procurement Teams
Standardize supplier quote requests.
Project Managers
Source project goods and services.
Buyers
Compare pricing and delivery conditions.
Operations Teams
Request repeatable supplier quotations.
What Should This Template Include?
RFQ Details
Reference, buyer, contact, dates, validity and currency.
Specification
Item/service description and required specification.
Quantity & Price
Quantity, unit price and automatic line total.
Delivery
Lead time, target delivery date and location.
Warranty & Compliance
Warranty, compliance and deviations.
Commercial Terms
Payment, freight, substitutions, evaluation and submission rules.
How to Use the Request for Quote (RFQ) Template
Define the Requirement
Specify exactly what suppliers should quote.
Set Quantities and Units
Use consistent units for comparison.
State Delivery Needs
Include location, target date and lead-time expectations.
Request Unit Pricing
Let the workbook calculate line and total values.
Capture Exceptions
Require suppliers to identify deviations or substitutions.
Compare Commercial Terms
Review warranty, freight, payment and quote validity.
Award or Clarify
Use the completed RFQ to support the purchasing decision.
Best Practices
Ambiguous requirements create incomparable quotes.
Capture freight, tax and other charges.
Do not assume a supplier meets every specification.
Lead time, warranty and risk can materially affect value.
Common Mistakes to Avoid
Use an RFI or RFP if the solution or scope is not yet clear.
Price alone may not reflect project needs.
Capture freight, tax and other costs.
Standardize the basis of quotation.
Request for Quote (RFQ) Template Format and Download
The product is provided as an editable Excel (.xlsx) file designed for practical project use.
| Template Feature | Included |
|---|---|
| Editable file | Excel (.xlsx) |
| PMWorld360 professional structure | Yes |
| Reusable for future projects | Yes |
| Download access after purchase | Download within 30 days of order confirmation |
Get the Request for Quote (RFQ) Template
Request and compare supplier pricing for clearly defined goods or services using consistent specifications, quantities, delivery requirements and commercial terms.
$14.95Download must be completed within 30 days after order confirmation.
Related Project Management Templates
Project Management Plan Template
Govern scope, schedule, cost, resources, risk, quality, communications and change.
Project Charter Template
Authorize a project and define objectives, scope, stakeholders and governance.
Risk Register Template
Identify, score, assign and monitor project risks and response actions.
RAID Log Template
Manage risks, assumptions, issues and dependencies in one governance log.
Project Status Report Template
Report project health, milestones, forecast, risks, issues and decisions.
All Project Management Templates
Browse planning, monitoring, reporting and governance templates.
More Tools & Resources for Project Managers
Free PM Calculators
Estimate timelines, ROI, budgets and project performance with practical calculators.
Explore Calculators →Software Reviews & Comparisons
Compare project, HR, accounting and business software for your team.
Compare Software →Project Management Job Board
Find project management roles or recruit experienced project professionals.
Visit Job Board →PMWorld360 — The Go-To Source for Everything Project Management. Trusted Since 2016.
Choose the Standalone Template or Full PM Toolkit
Download this template on its own or get the full PMWorld360 project management template toolkit.
Template Kit Includes Top 10 Core PM Templates