Checklist of Verifying Quotation from Vendors

Checklist of Verifying Quotation from Vendors from the purview of Finance & Accounts Department

In this article, we will tell you what need to check and verify if you received quotations from different vendors in Finance & Accounts department and how you can select the L1 vendor. Below are the Checklist of verifying quotation from vendors

Checklist of Verifying Quotation from Vendors

All the checkpoints are required in the best interest of the company. These checkpoints are not the exclusive list. Other points can also be considered depends upon the companies policy and rules.

Download links to the below checklist in excel are also attached below.

M/S ABC Ltd.

Quotation Checklist (by F&A department)

S.No.

Checkpoints

Yes

No

1

Atleast 3 vendors quotation is available or not for comparison statement.

 

 

2

All the quotation should be in original letterhead (sealed & signed) by the vendors

 

 

3

GST registration certificate is also required for all the vendors

 

 

4

Price quoted by the vendor shall be clearly shown

 

 

5

Price quoted by the vendor includes all applicable taxes for making better comparison

 

 

6

Other expense like freight, insurance shall be also mentioned in the quotation

 

 

7

Delivery time shall also be cleared

 

 

8

Discount applicable or not

 

 

9

Last Purchase price will be shown against each item (In case of  first time expense, LPP may be skip or can be open market value)

 

 

10

Proposal shall be approved by Head Procurement before handover to F&A

 

 

11

Return policy applicable or not in case of defective items

 

 

12

Scrutiny of Mutual Vendors Proprietary

 

 

                               Checked By

   (Finance & Accounts Department)



DOWNLOAD THIS CHECKLIST IN EXCEL AND USE: CLICK HERE


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