Free RFQ Template Excel Download (+ When to Upgrade to Software)
An RFQ template is a pre-formatted document that procurement teams and project managers use to request pricing, delivery timelines, and terms from multiple vendors in a standardized format. This free Excel template includes two tabs: an RFQ Form for sending to vendors, and a Vendor Comparison Matrix with weighted scoring for evaluating responses side by side. It is designed for construction contractors, manufacturing procurement managers, and operations teams who need to solicit and compare vendor quotes without starting from scratch. Download it below in Excel or PDF format.
What is inside the template
The template has two tabs. Tab 1 is the RFQ form itself, with fields for buyer and vendor details, scope of work, and a 15-row line-item table with auto-calculated totals. Tab 2 is a vendor comparison matrix with weighted scoring across 6 criteria, so you can objectively rank responses side by side.
Tab 1: RFQ Form
Tab 2: Vendor Comparison Matrix
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What This RFQ Template Includes
The template is split across two tabs, each serving a different stage of the procurement process.
Tab 1: RFQ Form
This is the document you send to vendors. It contains everything a supplier needs to provide an accurate quote.
Company header block. Fields for your company name, address, contact person, email, and phone number. On the right side: RFQ number, issue date, response deadline, and delivery location. The RFQ number field uses a simple format (RFQ-YYYY-NNNN) that you can adapt to your own numbering system.
Scope of work section. A free-text area where you describe the trade, project phase, or general scope this RFQ covers. For construction projects, this is where you specify the trade category (electrical, plumbing, structural steel). For manufacturing, describe the production run or component family.
Item table. The core of the RFQ. Each row captures:
- Item number: sequential, auto-filled
- Item description: what you are requesting (e.g., "Structural Steel I-Beams W10x22")
- Specifications / Tolerances: material grade, dimensions, standards compliance (ASTM, ACI, UL), tolerance ranges for manufacturing parts
- Quantity and unit of measure: how many and in what unit (EA, CY, LF, SQ, Roll)
- Required delivery date: when you need each item on site or at your facility
- Special requirements: any non-standard conditions (hazmat handling, temperature-controlled shipping, specific packaging)
Vendor response columns. The right side of the item table is where the vendor fills in their response:
- Unit price: cost per unit
- Total price: auto-calculated (quantity x unit price)
- Lead time in days: how long from PO to delivery
- Payment terms: Net 30, Net 45, early payment discount, etc.
- Vendor notes: any conditions, substitutions, or clarifications
A grand total row at the bottom sums all line-item totals automatically.
Construction-specific requirements. Below the item table, a section with checkboxes for insurance requirements (general liability, workers comp, professional liability), prevailing wage acknowledgment, and contractor certifications (licensed, bonded, OSHA 30).
Manufacturing-specific requirements. A separate section for sample/prototype requirements, quality certifications (ISO 9001, AS9100, IATF 16949), and a note directing vendors to enter material specs and tolerances in the specifications column above.
Terms and conditions. Six standard procurement terms covering quote validity (30 days), pricing inclusions, specification compliance, buyer's right to reject, PO issuance process, and delivery date commitments.
Submission instructions. Clear directions for how vendors should return the completed RFQ, including email subject-line format and attachment requirements.
Tab 2: Vendor Comparison Matrix
Once you receive responses from multiple vendors, switch to this tab to evaluate them.
Vendor information block. Side-by-side columns for up to 5 vendors, capturing company name, contact person, email, phone, quoted total price, delivery lead time, payment terms, and warranty details.
Weighted scoring section. Six evaluation criteria, each with a configurable weight that must total 100%:
- Price competitiveness (default weight: 30%)
- Delivery lead time (20%)
- Quality / certifications (20%)
- Payment terms (10%)
- Past performance / references (10%)
- Technical compliance (10%)
Score each vendor 1-5 on each criterion. The weighted total score calculates automatically using the formula: sum of (weight x score) across all criteria. The vendor with the highest weighted score is the quantitative recommendation, though the template also includes a free-text recommendation section for qualitative notes.
How to Use This RFQ Template
- Download and open in Excel. The template works in Microsoft Excel, Google Sheets, and LibreOffice Calc. Formulas are compatible with all three.
- Fill in your company details. Replace the header fields with your company name, address, and contact information. Set your RFQ numbering convention.
- Describe the scope of work. Write a clear, specific scope description. Vague RFQs get vague quotes.
- Enter line items. Add each item you need priced, with full specifications. The more detail you provide here, the more accurate the vendor quotes will be.
- Set your response deadline. Two weeks is standard for most procurement. Complex or custom-manufactured items may need 3-4 weeks.
- Save as PDF and send. Save the RFQ Form tab as a PDF for emailing to vendors. Keep the Excel version for receiving responses (vendors fill in the price/lead time columns and return it).
- Evaluate responses in the comparison matrix. Once responses come back, enter the key data points and scores in Tab 2. Adjust the weights if certain criteria matter more for this particular procurement.
Construction RFQ Templates
Construction procurement has specific requirements that generic RFQ templates miss. This template includes fields for trade/scope of work (critical when you are issuing separate RFQs for electrical, plumbing, HVAC, and structural on the same project), insurance and bonding requirements, and prevailing wage acknowledgment for public works projects.
When using this template for construction, pay particular attention to the specifications column. Material specs for construction (ASTM steel grades, ACI concrete mix requirements, UL electrical ratings) directly affect pricing. A vendor quoting ASTM A36 steel when you need A992 will give you a misleading low price.
The delivery location field matters more in construction than most industries. Delivery to a downtown high-rise site with limited staging area costs differently than delivery to a suburban warehouse. Specify the exact delivery point, any access restrictions, and whether the vendor is responsible for unloading.
Manufacturing RFQ Templates
Manufacturing RFQs require tighter specification control than most other industries. The template includes a dedicated specifications/tolerances column where you enter material grade, dimensional tolerances, surface finish requirements, and any applicable standards (ISO, AS9100 for aerospace, IATF 16949 for automotive).
The manufacturing-specific section includes checkboxes for sample/prototype requirements (first article inspection is standard in precision manufacturing) and quality certifications. If you are sourcing from a new vendor, requiring a sample before committing to a production order can save significant rework costs.
For production-quantity RFQs, consider breaking your line items into tiered quantities (100/500/1000 units) so you can see the vendor's volume pricing curve. The template has 15 line-item rows, which is enough to include multiple quantity tiers for several part numbers.
RFQ Format for Indian Procurement
If you are issuing RFQs from India or to Indian suppliers, a few additional fields may be needed. Add your company GSTIN in the header section. In the terms and conditions, specify whether quoted prices should be inclusive or exclusive of GST (most B2B procurement quotes are exclusive, with GST applied on the purchase order). For inter-state procurement, note whether the delivery triggers IGST or CGST + SGST based on place of supply. Indian procurement teams also commonly include a column for HSN/SAC codes alongside the item description, which streamlines the eventual purchase order and invoice process. The template's specifications column can be used for this; simply rename the column header or add a sub-column.
What to Look for in a Good RFQ Template
Clear item specifications
The template should have a dedicated column for specifications, tolerances, and standards. A vague "description" column is not enough for technical procurement.
Vendor response columns built in
A good RFQ template is a two-way document. The vendor should be able to fill in their pricing and terms directly in the same spreadsheet, not on a separate form.
Auto-calculated totals
Line item totals (quantity x unit price) and grand totals should calculate automatically. Manual math invites errors, especially when comparing 3-5 vendor responses.
A comparison mechanism
The RFQ form captures responses; the comparison matrix helps you evaluate them. A template without a comparison mechanism leaves you building one from scratch every time.
Industry-specific fields
Generic "business" RFQ templates miss the fields that matter most: insurance requirements for construction, quality certifications for manufacturing, prevailing wage compliance for public projects. Choose a template that includes your industry's standard requirements.
Print-ready layout
RFQs are still frequently printed, signed, and scanned. The template should have a defined print area that fits cleanly on standard paper without manual formatting adjustments.
When You Outgrow Excel for Procurement
This template works well for small teams running a handful of RFQs at a time. But several pain points surface once your procurement volume grows:
- Tracking vendor responses across 10+ active RFQs simultaneously. Each RFQ is a separate file. There is no central dashboard showing which vendors have responded, which are overdue, and which need follow-up.
- Version control. When specs change mid-RFQ (and they do), you need to track which vendor saw which revision. Excel does not have built-in versioning.
- Comparing bids consistently. The vendor comparison matrix works for one RFQ at a time. Comparing vendor performance across dozens of past RFQs requires a database, not a spreadsheet.
- Audit trail for compliance. If your organization has procurement policies (competitive bidding thresholds, approved vendor lists, approval workflows), a spreadsheet cannot enforce them.
- Connecting to downstream documents. An approved RFQ should flow into a purchase order, which should flow into receiving and invoicing. In Excel, each step is a manual re-entry.
Procurement modules in ERP or construction management software handle all of this. If you are managing materials for construction projects, the Contractor Project Hub includes vendor management, PO tracking, and materials receiving in one system. For manufacturing procurement, a manufacturing ERP connects RFQs to BOMs, purchase orders, receiving inspection, and inventory in a single workflow.
Managing 10+ vendor quotes in spreadsheets?
When you send more than a handful of RFQs a month, tracking responses in Excel breaks down. See how procurement software handles it.
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Related Templates
If you are using this RFQ template, you will also need:
- Construction Cost Control Templates: Budget tracking and cost category breakdown for construction projects. Includes variance analysis to compare estimated vs actual costs.
- Purchase Order Template (coming soon): The next step after accepting a vendor's RFQ response. Formal authorization to purchase at the agreed price and terms.
- Construction Estimate Template (coming soon): Cost breakdown document sent to clients before work begins, covering materials, labor, equipment, and markup.
- Contractor Invoice Template (coming soon): Billing document for completed work, with line items for labor, materials, equipment, and change order adjustments.
Frequently Asked Questions
What is an RFQ template and when should you use one?
An RFQ (Request for Quotation) template is a standardized document used to request pricing and terms from potential vendors or suppliers. Use an RFQ when you know exactly what you need (specific items, quantities, and specifications) and want to compare prices from multiple suppliers. RFQs are different from RFPs (Requests for Proposal), which are used when the scope is less defined and you want vendors to propose solutions, not just prices.
What is the difference between an RFQ and an RFP?
An RFQ asks vendors to quote a price for clearly specified goods or services. The buyer defines exactly what they need; the vendor provides pricing and delivery terms. An RFP asks vendors to propose a solution to a problem or requirement. The vendor defines the approach, timeline, and pricing. Use an RFQ for commodity purchases and standard materials. Use an RFP for complex services, custom fabrication, or projects where multiple approaches are viable.
What should be included in a request for quotation?
A complete RFQ includes: your company information and contact details, an RFQ number and response deadline, a clear scope of work description, itemized list with full specifications (material grades, tolerances, standards compliance), quantities and units of measure, required delivery dates and location, terms and conditions (quote validity, pricing inclusions, payment terms), and submission instructions. For construction, add insurance and certification requirements. For manufacturing, add quality certification requirements and sample/prototype specifications.
How do you compare vendor responses to an RFQ?
Use a weighted scoring matrix. Assign percentage weights to each evaluation criterion (price, delivery, quality, payment terms, past performance, technical compliance) that total 100%. Score each vendor 1-5 on each criterion. Multiply each score by its weight and sum the results. The vendor with the highest weighted total score is the quantitative front-runner. Always supplement the quantitative score with qualitative factors: vendor reputation, past experience, financial stability, and references.
Can you use Excel for RFQ management?
Yes, for small procurement operations (fewer than 10 active RFQs at a time). The template in this post handles RFQ creation and vendor comparison in Excel. However, Excel has limitations for high-volume procurement: no centralized tracking across multiple RFQs, no version control when specs change, no automated follow-up reminders for overdue vendor responses, and no connection between the approved RFQ and the resulting purchase order. For teams running 10+ RFQs monthly, procurement software or an ERP module is more practical.
When should you switch from Excel RFQs to procurement software?
Consider switching when you regularly manage more than 10 active RFQs simultaneously, when multiple people on your team issue RFQs and need a shared view of vendor status, when you need an audit trail for procurement compliance (competitive bidding thresholds, approved vendor lists), or when you spend significant time re-entering data from approved RFQs into purchase orders and invoices. Procurement modules in construction management software like the Contractor Project Hub ($999 one-time) or manufacturing ERP software automate this entire workflow.
This RFQ template is free for commercial use. If your procurement needs grow beyond what a spreadsheet can handle, Fuzen builds custom procurement and ERP software for construction and manufacturing teams.
Managing 10+ vendor quotes in spreadsheets?
When you send more than a handful of RFQs a month, tracking responses in Excel breaks down. See how procurement software handles it.
