1000+ templates ready to explore

Free Database templates for all your workflows

Search and explore from our gallery of no-code database templates. Use any template to start with and add it to your workspace.

Stackby loader
0 result for sss

Purchase Price Request Form Template

Use Template
Purchase Price Request Form Template
Use Template

What Is a Purchase Price Request Form Template?

A Purchase Price Request Form Template is a pre-designed form that allows employees or departments to formally request price approvals for goods or services before procurement. It ensures all pricing requests are documented, reviewed, and approved to maintain budget compliance and avoid procurement errors. 

Who Can Use the Purchase Price Request Form?

  • Procurement Teams – To review and approve requested purchase prices before placing orders.
  • Department Managers – To request approval for new or negotiated prices.
  • Finance Teams – To verify costs and ensure compliance with budgets.
  • Project Managers – To manage pricing requests for project-related purchases.
  • Any Organization – That wants structured approval for purchase prices to avoid overspending. 

Problems Solved Using the Purchase Price Request Form

  • Uncontrolled Spending: Prevents unauthorized purchases by requiring price approval.
  • Budget Mismanagement: Ensures requested prices align with budget allocations.
  • Approval Confusion: Standardizes the workflow for price review and authorization.
  • Lack of Documentation: Creates a formal record of price requests and approvals.
  • Procurement Delays: Streamlines the approval process for faster purchasing decisions. 

Key Features

  • Requester and Department Details – Capture who is requesting the price approval.
  • Item / Service Description – Specify the goods or services requiring pricing approval.
  • Proposed Purchase Price – Record the requested price for review.
  • Justification / Purpose – Explain why the price request is needed.
  • Approval Workflow – Routes the request to managers or finance for authorization.
  • Budget / Account Code – Link the request to the appropriate budget or project.
  • Delivery or Procurement Notes – Include any relevant details for purchase planning.
  • Status Tracking – Monitor the request from Pending ? Approved ? Completed. 

Benefits of the Purchase Price Request Form

  1. Budget Control – Ensures spending aligns with allocated budgets.
  2. Approval Transparency – Provides a clear and auditable approval process.
  3. Faster Procurement Decisions – Streamlined workflow reduces delays.
  4. Error Reduction – Prevents miscommunication and unauthorized purchases.
  5. Audit-Ready Records – Maintains documentation for internal and financial audits. 

Use Cases

  • A procurement team requests price approval for a bulk purchase of raw materials.
  • A department manager seeks approval for equipment or software costs.
  • A finance team verifies and approves negotiated supplier prices.
  • A project manager requests price approval for project-related purchases. 

Workflow of the Purchase Price Request Form

  1. Request Submission: Employee submits the item/service details and proposed price.
  2. Review & Approval: Manager or finance team reviews and approves or rejects the request.
  3. Procurement Action: Approved requests proceed to procurement or vendor negotiation.
  4. Status Update: Track requests as Pending, Approved, or Completed for accountability. 

Other Related Templates

 

Other Related Templates