Advantages of Request for Quotation

1. Procurement lead time is significantly reduced given that there‘s no need to prepare solicitation documents, or to advertise requirements. And the period for quotations submission is also equally reduced.
2. The number of quotations received is limited to the number of bidders quotations were requested from, so the selection process time is also reduced.
3. To procuring and/or requesting entities would usually have a pretty good idea of where and from whom the goods, services or works can be procured, so there‘s a higher probability of response to the request for quotations.

Disadvantages of Request for Quotation

1. Procuring entity can find itself in irregularities because it decided which suppliers, contractors or service providers to send request for quotations to, and competition is very limited.
2. Could be abused as a result of breaking of requirements into smaller sizes in order to apply this method of procurement,
3. Could easily lead to requesting quotes from a limited number of firms even if the goods services or works are available from a greater number.