Definition
An RFQ turns the ship's requisition into something a supplier can price: the lines (by IMPA code or part number), quantities and units, the port and delivery point, the ETA, the currency, payment terms and the date by which quotes are due. Leave any of these out and the quotes come back on different bases and cannot be compared.[1]
Terms of sale decide what a quote is worth. ISSA's General Conditions of Sale, which many shipsuppliers use, say that an accepted quotation is charged as quoted, while orders against an expired price list are charged at the port prices on the day of delivery — so ask for a validity date on every quote.[2]
Three quotes by e-mail are hard to compare and easy to game. GeoMarineHub runs the RFQ as a sealed bid: every verified supplier at the port prices the same lines per standard unit, no one sees another's bid, and you award on the numbers.
Read next on GeoMarineHub
Sources
- [1] IMPA Marine Stores Guide — About — https://www.marinestoresguide.com/about
- [2] ISSA — General Conditions of Sale — https://www.shipsupply.org/conditions-of-sale/
A working definition for buyers, not legal advice — the contract, the convention text and your club or class have the last word.