A request for information (RFI) is a document used by government agencies or companies to request information from the public to address a particular problem. It is used for large procurements and can be in various formats. RFI is similar to request for proposal (RFP) and request for quotation (RFQ). An RFT advertises opportunities available to suppliers and is required in some countries for every business transaction exceeding $200,000 in the EU.
A request for information (RFI) is a document issued by government agencies or companies. As the title suggests, the document serves to request information from the public in order to address or learn about a particular problem. RFI could be seen as a litmus test for determining whether the necessary goods and services are available in the market. It is often used for large procurements.
For example, in 2006, the Mine, Safety and Health Administration (MSHA) issued an RFI covering lifesaving equipment and technology. The format of this RFI contained a clear explanation of a government agency’s RFI and a brief summary of the information requested with a description of the issue at hand. In accordance with the Mine Improvement and New Emergency Response (MINER) Act, underground coal mine operators are required to submit an Emergency Response Plan (ERP) to MSHA. This plan should detail responses during an emergency event and procedure for assisting miners trapped underground in cases where evacuation is impossible. The RFI specifically seeks information on methods of providing breathable air during such situations.
There are other possible formats for an RFI. Overall, it should inform the reader about the issuing organization’s goal and how it tentatively plans to achieve it. In response to the RFI discussed above, suppliers of rescue equipment technology will compete for the opportunity to provide MSHA with the best information. This information can be in a variety of formats, including comments and data. MSHA will not only be able to gather the information it seeks, but will also be able to compare suppliers in order to choose which one it wishes to receive life-saving equipment from.
Request for proposal (RFP) and request for quotation (RFT) are similar to RFI. An RFP is a specific request for vendors to bid for a service or contract. A response to an RFI requires very specific information about the vendor, such as company information, including financial records and technical capabilities. The request for quotation (RFQ) is used in place of the request for quotation when price is the determining factor in choosing a supplier.
An RFT advertises the opportunities that may be available to suppliers. In some countries, it is required that every business opportunity be advertised via a RFT. In the European Union (EU), for example, every commercial transaction that exceeds $200,000 (USD) must have an RFT.
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