Request For Quote - RFQ
Categories: Regulations
See: Request For Proposal - RFP.
You're building a home. You want a general contractor to do it for you. You send a Request for Quote (a bid, basically) to 3 candidates who all come back with a percentage number for their fee, along with other fees they'll charge you, and an estimated completion budget, which you will always exceed.
RFQs are a common thing in complex builds. You almost always want quotes from a few vendors so you can avoid being taken to the cleaners too badly, the presumption being that, if you get multiple quotes, at least one of the vendors will be fair-ish.
