Request For Information
Request for Information
A Request for Information (RFI) is a proposal
requested from a potential seller or a service provider to determine what
products and services are potentially available in the marketplace to meet a
buyer's needs and to know the capability of a seller in terms of offerings
and strengths of the seller. RFIs are commonly used on major procurements,
where a requirement could potentially be met through several alternate
means. An RFI, however, is not an invitation to bid, is not binding on
either the buyer or sellers, and may or may not lead to an RFP or (RFQ).
RFI must inform the reader of the issuing organization's goal and how it
tentatively plans to achieve it. The information may be in a range of
different formats, including comments and data. The organisation issuing the
RFI should not only be able to collect the information it seeks, but it
should also be able to compare suppliers in order to choose the one from
which it would like to receive rescue equipment.
Request for Proposal (RFP) and Request for Tender (RFT) are similar to RFI.
An RFP is a specific request for suppliers to bid for a service or contract.
A response to a RFI requires very specific information about the supplier,
such as corporate information including financial records and technical
capabilities. Request for Quotation (RFQ) is used in place of RFP when price
is the determining factor in choosing a supplier.