The ____ lacks the ______ component. When the _______ component is missing, the document is merely an invitation to bid.

Question

Quizplus · Accepted Answer

RFQ stands for Request for Quotation, which is a document used to request price quotes from vendors or suppliers. RFQ lacks the intent component, which is necessary to make the document legally binding. Without clear intent, the RFQ is simply a request for information and not a formal offer or contract. The other options are not accurate terms for this context.

The ____ Lacks the ______ Component

The Lacks the __ Component