A Request for Quotation (RFQ) is a business document used to solicit pricing and availability information from potential suppliers. Buyers send the 840 transaction set to suppliers when they need quotes on goods or services before committing to a purchase order. The document is initiated by a buyer organization and received by supplier organizations. The BQT (Beginning Segment for Request for Quotation) segment establishes the quotation type and request purpose, while the mandatory PO1 (Baseline Item Data) loop specifies each line item being quoted. Additional segments such as CTP (Pricing Information) and DTM (Date/Time Reference) allow buyers to communicate pricing expectations, delivery date requirements, and other commercial terms relevant to their quotation request.

ABC Manufacturing needs quotes on specialized circuit boards and fasteners for an upcoming production run. On March 15, they send an 840 RFQ to three potential suppliers—Northeast Electronics, Midwest Industrial Supply, and Pacific Components—requesting prices on two circuit board types and bulk quantities of stainless steel fasteners. The RFQ includes specific delivery dates via DTM segments, packaging requirements in the PKG segment, and F.O.B. terms in the FOB segment. Each supplier receives the identical RFQ with the same line items and requirements, allowing ABC Manufacturing to compare quotes apples-to-apples before deciding which supplier offers the best value for their production needs.