Request for Quote (RFQ)

A request for quote (RFQ) is a process in which one company requests a quote or estimate from another company for the purchase of goods, products, or services. A request for quote (RFQ) is also known as a call for bid (CFB) or an invitation to bid (IFB) (IFB). An RFQ is frequently used by a borrower in a blockchain context to request potential loan terms from a DeFi or blockchain company, which can be related to specialized liquidity pools or other similar mechanisms.