This Request to Quote Template, also known as a request for a quotation or an invitation for bid (IFB), is used to secure procurements for a project. The RFQ is a method of narrowing down the suppliers to only those who can consistently meet your price range. The request for quotation is frequently sent before the request for proposal (RFP). The RFQ and RFP are similar documents in that they initiate communications with suppliers, either together or separately. The RFP describes the project and the services or materials required. The RFQ specifically asks how much that service or good will cost to set a price for the project.