RFQ vs RFI: Information Gathering vs Price Quoting
Compare RFQ and RFI to understand when to gather market information first versus going straight to pricing requests.
RFQ — Request for Quotation
RFI — Request for Information
Detailed Comparison
| Feature | RFQ — Request for Quotation | RFI — Request for Information |
|---|---|---|
| Primary Goal | Get prices | Gather information |
| When to Use | You know what to buy | You're exploring options |
| Binding? | Can be | No |
| Typical Use | Direct purchase process | Pre-procurement research |
Quick Summary
- ✓ RFI is used for market exploration — understanding what's available, who the suppliers are, and what capabilities exist.
- ✓ RFQ is used for actual purchasing — getting specific pricing for well-defined requirements.
- ✓ Use RFI first when entering a new category or market, then transition to RFQ when ready to buy.
When to Use Each
Choose RFQ — Request for Quotation
Use RFQ when you already know exactly what you need. You have clear specifications, quantities, and delivery requirements. You're ready to make a purchase decision.
Choose RFI — Request for Information
Use RFI when you're researching a new category, exploring the market, or building a supplier database. It helps you understand what's available before committing.
Frequently Asked Questions
Do I need to issue an RFI before an RFQ?
Not always. If you know the market well, go straight to RFQ. RFI is helpful for new categories or markets.
Is an RFI binding?
No, an RFI is purely informational. It doesn't create any obligation for either party.
What information should I include in an RFI?
Company overview, capability requirements, delivery needs, quality expectations, and any specific questions.
Download Related Templates
Put this comparison into practice with our professionally designed procurement templates.
Browse Templates →