What is a Request for Information | RFI Meaning?

What is Request for Information (RFI)?

A request for information (or RFI) is a written request for information that is sent to a supplier to obtain more specific details about a product or service. The query is typically used when businesses need more information about the goods or services they are interested in purchasing.

Companies may use RFIs from all industries and business sectors, including retail, wholesale trade, finance, insurance, healthcare, and IT. RFIs are an essential part of the selection process for businesses. They enable buyers to obtain more information about a product or service and compare different options before deciding which supplier will provide them with what they need. The information in RFIs should be specific enough to help ensure that a business gets precisely what it requires but not so detailed that they become too expensive for suppliers to respond.

Businesses usually do this by using a standard format for RFIs and ensuring each section has a question or statement of what you want from the supplier. For example, if you need an estimate of delivery time, ask: When can I expect delivery?