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QUESTION

How does the active RFQ dashboard work?

ANSWER

Your Marketplace dashboard consists of two columns. The column on the left lists all RFQs and their current status: Awaiting Response, Completed, Timeout, Responded etc. You can toggle between Incoming which will show you all the RFQs or quotes you are receiving, or Outgoing, which is all the RFQs or quotes you have sent. If you click on an RFQ that you have sent, you can review all the details as well as choose to Cancel it while the bidding period is still active.

The column on the right shows you all details of a quote if you had clicked on it to gather further information. It also shows you any quotes that you have yet to take action on, whether it is clicking on the Accept button to accept a quote, or clicking on it to Reject or Confirm a Quote.

Aside from the status of all RFQs, you can also see a timer counting down to its expiry time, which will tell you how much time you have left to respond to a quote.

An RFQ is active for up to 30 minutes, which means trading partners can send quotes within that time frame. A green line above the top of each active RFQ gives a visual indication of how much time is left before a quote expires. The maximum amount of time a transaction can take to complete is 35 minutes as the marketplace participant that posted the RFQ will have 5 minutes to review the quotes they have received, despite the quote validity time that is indicated.

Here are the some of the main statuses an RFQ can be in:

RFQ Status Description
Awaiting Response RFQs that have not received any quotes will be in a pending status
Responded Once an RFQ has received one or more quotes, this status will be displayed
Completed When an RFQ has one or more responses and these are accepted, or confirmed, the transaction will enter into the Completed stage
Timeout If an RFQ receives no quotes after the bidding period, it will expire and quotes can no longer be submitted to it

The bottom right + button is a shortcut for creating an RFQ.

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