What is Request for Quotation?
Request for Quotation (RFQ) in a construction project is a invitation by owner or main contractor for contractors to bid various project activities. The quote request may be for construction, materials or services in a construction project.
Request for Quotation is a request form sent by the client to the vendor or to the supplier or the contractor to inform the client of the details of the products or services they perform.
A proper analysis of tender packages and an estimation of the entire project is a means to obtain the key features that you need to know before making a “Request For Quotation”
If the tender package is good, correct and clear quotes can be obtained. All the plans and the detailed document shall be included in the tender package so that key project requirements are conveyed.
Required details in Request For Quotation
The tender package and the scope of work must also be connected in parallel with the quotation request. The RFQ must state this attachment. The attachment shall, therefore, be accompanied by the offer form, a detailed description of the scope of the works and the project description, which will be the basis for the quotation.
- Request for details and rate per unit price for the material supply.
- Request for reinforcement details and according to the estimated prices given in the tender.
- Details of labor and rate requested.
- The subcontractor’s details and their costs are requested.
In addition to the above details, specific requests must be requested in the ‘ request for quotation ‘ form. These include the following:
- In both the tender and the quotation, it shall be noted that, in the presence and in the acceptance of a customer or designer, any changes to the schedule, materials or installations shall be made. That will save cash from unexpected, expensive changes or substitutes.
- A quotation must be requested which is fully detailed, where the full breakdown of the project is mentioned with the materials and details and the price.
- The quotation must include beginning and end dates, and when applicable, milestone dates. The time factor affecting the construction rate and the price of the materials together must specify the time the quote is valid.
- The details of payment for the project progress must be properly stated in the quotation.
- Details on the fulfillment of environmental obligations may be requested. The disposal of demolition waste includes this. The rules and regulations vary from council to council.
- The registration, builders ‘ insurance or proof of license is the next important detail. The following. With the relevant authorities in the State or country, we must examine the details and credentials of the builder. All bidders should provide their insurance information in full documentation.
- The quote should also be a reference to the work history and client details. This helps to check the contractor’s previous work efficiency before accepting the quotation.
The number of details in the quotation request will determine the quality and value of the offers offered to the client by the bidders.