Full formBanking & Finance
UQNstands forUnique Quotation Number
Full Form of UQN
What is UQN?
Unique Quotation Number (UQN) is a distinctive identification code assigned to each quotation or bid submitted during a procurement or tendering process. In India, UQNs are widely used by government departments, public sector undertakings, and banking institutions to track, reference, and manage vendor quotations efficiently across various stages of evaluation. The system ensures transparency, accountability, and easier retrieval of quotation documents during internal audits, compliance reviews, and procurement assessments. Major public sector banks, including the State Bank of India, Reserve Bank of India, and several nationalized banks, issue UQNs when floating tenders for goods, services, IT infrastructure, or construction projects. Vendors and suppliers are required to quote their UQN in all subsequent communications, clarifications, and negotiations related to a particular bid. The mechanism forms an integral part of India's broader e-procurement and GeM framework, which aims to minimize manual errors, prevent favoritism, and streamline the public procurement cycle. UQNs are also relevant for candidates preparing for competitive banking and government exams such as IBPS PO, SBI Clerk, and SSC CGL, where questions on procurement procedures and banking operations appear regularly in the general awareness section.
UQN का फुल फॉर्म
विशिष्ट उद्धरण संख्या
Example
The vendor submitted the quotation under UQN 2024/SBI/TENDER/0789 and awaited confirmation for the technical evaluation round.
UQN — frequently asked questions
What is the full form of UQN?
UQN stands for Unique Quotation Number, a unique identification code assigned to vendor quotations in procurement and tendering processes.
Where is UQN used in India?
UQN is commonly used by Indian banks, government departments, and public sector undertakings when issuing tenders for goods, services, or infrastructure projects.
Is UQN important for banking exams in India?
Yes, UQN-related questions on procurement and tendering procedures often appear in the banking awareness section of exams like IBPS PO, SBI Clerk, and SSC CGL.