When you are setting up RFQ’s you might want to consider the default payment terms. There is a parameter that will default from the procurement parameters. You might want to consider what you set this too and published to the vendors. For example you might already have negotiated payment terms with a vendor. So when the RFQ is created the default from the RFQ to the purchase order.
Here is a quick overview
AX2012 R3 CU11