What does a Request for Quotation (RFQ) specifically represent?

Show Answers

A document that evaluates business and technical needs of a commercial software package against the features of a particular commercial software product.A document outlining business, technical, and support criteria sent to multiple vendors competing to provide the software package and related services.A document detailing business, technical, and support requirements sent exclusively to a single vendor identified as capable of supplying the software package and services.An agreement between management and users to create or improve an information system.

Explanation

Option C is correct because an RFQ is a document that communicates the business, technical, and support needs of an application software package to one selected vendor who is qualified to supply the package and associated services. Option A describes a comparison document, B refers to a competitive bidding process involving multiple vendors, and D is a contract for system development or enhancement.