Request for qualifications
Topic: Finance
From HandWiki - Reading time: 2 min
A request for qualifications (RFQ) is a step sometimes used in the formal process of procuring a product or service, for example by a government agency. It is typically used as a screening step to establish a pool of vendors (businesses or individuals to provide a product or service) that are then qualified, and thus eligible to submit responses to a request for proposals (RFP).[1][2] In this two-step process, the response to the RFQ will describe the company or individual's general qualifications to perform a service or supply a product but generally will not include specific details or price proposals.[3]
Benefits of including a RFQ step
For the procurer, an RFQ provides a pre-screening step, so at the request for proposal phase there are fewer proposals to evaluate.[4] The Request for Qualifications thus becomes a means by which the purchasing agency can add vendors to their select sellers list, i.e. list of vendors eligible to bid.[5]
For the respondent, they do not spend the time and effort to write a full proposal only to find out they were not qualified as a firm.
In some jurisdictions, the RFQ is a required step for some types of procurement.[6] In the United States, the Federal Highway Administration denotes a request for qualifications as a "phase one solicitation" for design–build projects.[7]
References
- ↑ "Artscape DIY - What is a Request for Qualifications and How Do I Use One?". http://www.artscapediy.org/Creative-Placemaking-Toolbox/How-Do-I-Select-and-Contract-Specialists-and-Servi/What-is-a-RFQ-and-How-Do-I-Use-One.aspx.
- ↑ Services, Ministry of Technology Innovation and Citizens. "Request for Qualifications - Province of British Columbia". http://www2.gov.bc.ca/gov/content/governments/services-for-government/bc-bid-resources/how-to-buy-services/procurement-process/pre-award/prepare-solicitation-documents/request-for-qualifications.
- ↑ Chapter 12 - Legal Aspects of Infrastructure Investments http://library.books24x7.com/viewer.asp?bookid=40847&chunkid=457083523&rowid=551&refid=MS5LI The Handbook of Infrastructure Investing by Michael D. Underhill John Wiley & Sons (c) 2011 9780470243671
- ↑ "Artscape DIY - What is a Request for Qualifications and How Do I Use One?". http://www.artscapediy.org/Creative-Placemaking-Toolbox/How-Do-I-Select-and-Contract-Specialists-and-Servi/What-is-a-RFQ-and-How-Do-I-Use-One.aspx#when_rfq.
- ↑ Chapter 9 - Procurement and Contracts http://library.books24x7.com/viewer.asp?bookid=86112&chunkid=340200216&rowid=470&refid=MS5LI The Project Management Answer Book, 2nd Edition by Jeff Furman Management Concepts (c) 2015 9781567264463
- ↑ "Indiana Code Title 5. State and Local Administration - FindLaw". http://codes.lp.findlaw.com/incode/5/30/5.
- ↑ Migliaccio, G. C.; Gibson, G. E.; O'Connor, J. T. (January 2009). "Procurement of Design-Build Services: Two-Phase Selection for Highway Projects". Journal of Management in Engineering 25 (1): 29–39. doi:10.1061/(ASCE)0742-597X(2009)25:1(29).
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