A RFQ, or Request for Quotation auction would typically be issued by an individual or organization looking for a product or service that is described in the RFQ's detail. Any persons or organizations interested in providing a product or service to the auctioneer can submit their bid. The bid typically includes additional descriptions or features of products or services regarding the RFQ, as well as any other limiting terms to their bid submission. At auction close the auctioneer can choose which, if any, bid that he or she wants to accept.

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