RFQ response checklist
An RFQ response checklist for suppliers: decide whether to bid, check the specification, price it, write the quote and follow up before the deadline.
By the PromptLab team7 November 20264 min read
A request for quotation arrives with a deadline and several competitors on the same email. The supplier who answers correctly and clearly, on time, usually has the edge. A mistake in the spec or the price costs the order, or worse, wins you an order you lose money on.
This checklist is for sales teams answering RFQs for products. Use it every time, so a rushed Friday request gets the same care as a large one. For the process, read how to respond to an RFQ, and for wording, our RFQ response email templates. New to the term? See what is an RFQ.
Decide whether to bid
Not every RFQ deserves a response. A quick check saves hours on requests you can't win.
Go or no-go
Read the request closely
Many errors come from reading too fast. Go through the request line by line.
Requirements
Price it properly
Build the price from the cost up, then check it against what you know of the market.
Pricing
For example, say the buyer wants 10 tonnes delivered to their plant, your list price is $2,000 per tonne ex works, and delivery costs $600. The quote is $20,600 before any discount, and delivery is a named additional cost, not hidden in the unit price.
Write and send the quote
The quote is the document the buyer compares. Make it complete and easy to check.
The response
Follow up and learn
Sending is not the end. Many RFQs are decided in the days after the quotes arrive.
Follow-up
The items people skip
- The go or no-go decision. Teams answer everything, then run out of time for the real chances.
- Questions to the buyer. An unclear spec is a risk, not a reason to guess.
- Validity. A quote with no validity can come back months later at an old price.
- Loss reasons. Without them you can't improve the next response.
How PromptLab helps
Log the RFQ as a deal on the buyer's account, with the deadline in a custom date field, and build the quote from your products, with the customer's price list picked on the quote and line discounts. Add delivery as a named additional cost, put your conditions and the validity in the quote's Notes field (quotes have no expiry field), and send the PDF or a public link. Quotes carry Draft, Pending and Approved statuses, and a workflow can create a follow-up task when a quote changes status. Lost deals need a loss reason from Price, Competitor, Timing, No budget, Product fit or Other. See quotes and samples, and our quote checklist.
Frequently asked questions
What should an RFQ response include?
Include a price, quantity and total for every line, the delivery date and terms, payment terms, validity, any difference from the specification and the documents requested. Send it before the deadline to a named contact.
How fast should I respond to an RFQ?
As fast as you can answer accurately. Quick, correct responses stand out, but never send a price you haven't checked just to be first.
Should I answer every RFQ?
No. Check whether you can supply the product, meet the date, earn a margin and trust the buyer. Spend your time on the requests you can win.
What if I can't meet the full specification?
Answer the lines you can meet and say clearly what you can't, or offer the closest alternative with the differences listed. A partial answer that is honest is better than silence.
How is an RFQ different from an RFP?
An RFQ asks for a price on a defined product or service. An RFP asks suppliers to propose a solution and is broader. Most product orders start with an RFQ.