A purchasing document that is used as a request to bidders to submit their terms, such as price, discount, delivery time, and payment terms for delivering a (quantity of a) product.
You can send the RFQ to several bidders. A bidder can submit an RFQ response for the specified items.
You can record the responses, negotiate, and compare the prices and discounts that are offered by different bidders.
An accepted response can be copied to a contract, an order, or a price book.