Full formBusiness & Corporate
RPQstands forRequest for Price Quotation
Full Form of RPQ
What is RPQ?
A Request for Price Quotation, commonly abbreviated as RPQ, is a formal document or invitation issued by a buyer to potential suppliers asking them to submit the price at which they are willing to sell specific goods or services. In India, RPQs are extensively used by government departments, public sector undertakings, defence organisations, and private companies during their procurement cycles. Small businesses, manufacturers, and vendors frequently respond to RPQs floated through GeM, government e-procurement portals, and direct emails. The document typically includes product specifications, quantity needed, delivery timelines, payment terms, and the deadline for submission. RPQs are especially common in tenders floated by railways, defence establishments, and municipal bodies where comparative pricing from multiple vendors is required before finalising a purchase order. Understanding the RPQ process is valuable for entrepreneurs, business owners, and commerce students who participate in or analyse institutional buying procedures in India.
RPQ का फुल फॉर्म
मूल्य कोटेशन हेतु अनुरोध
Example
The Public Works Department floated an RPQ seeking competitive rates for supplying 5,000 metric tonnes of cement across its district-level construction projects.
RPQ — frequently asked questions
What is the full form of RPQ?
RPQ stands for Request for Price Quotation, a procurement document used to invite price bids from suppliers for specific goods or services.
How is RPQ different from RFQ and RFP?
An RPQ focuses specifically on price quotes, while an RFQ seeks detailed quotation with terms, and an RFP invites comprehensive proposals including technical approach, methodology, and pricing from vendors.
Where is RPQ commonly used in India?
RPQs are widely used by government departments, PSUs, defence organisations, and private companies in India, often published through GeM portal, state e-procurement sites, or direct tender notices.