Friday, 23 September 2016

RFI - REQUEST FOR INFORMATION

Search Wikipedia

This article is about the business practice. For the motion in parliamentary procedure, see Request for information (parliamentary

A request for information (RFI) is a standard business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative

An RFI is primarily used to gather information to help make a decision on what steps to take next. RFIs are therefore seldom the final stage and are instead often used in combination with the following: request for proposal (RFP), request for tender (RFT), and request for quotation (RFQ). In addition to gathering basic information, an RFI is often used as a solicitation sent to a broad base of potential suppliers for the purpose of conditioning suppliers' minds, developing strategy, building a database, and preparing for an RFP, RFT, or RFQ. [1]

The ubiquitous availability of the Internet has made many government agencies turn either to state-run or vendor operated websites which provide listings of RFIs as well as RFPs and RFQs. Many allow vendors to sign up at no charge to receive e-mails of requests either generally or for specific categories of product or service for which there is an interest. In some cases, the entire process is done on-line with responses as scanned documents or PDF files uploaded to the server; in other cases, or for legal reasons, a response must be sent in hard copy form and/or on CD/DVD disc or flash drive by mail or delivery service.

The RFI procedure is used in the construction industry in cases where it is necessary to confirm the interpretation of a detail, specification, or note on the construction drawings, or to secure a documented directive or clarification from the architect or client that is needed to continue work.

An RFI raised by the general contractor that has been answered by the client or architect and distributed to all stakeholders is generally accepted as a change to the scope of work unless further approval is required for costs associated with the change.

It is common and accepted practice for a subcontractor or supplier to use an RFI to state his/her concern related to the omission or misapplication of a product, and seek further clarification of the building owner's intended use or the building official acceptance of the specified product. It is also acceptable for the subcontractor to use an RFI to call attention to an inferior product that may not meet the building owner's needs, and use his/her expertise to recommend the better/correct product.

If used as described above it is a very effective tool in helping a construction project move along efficiently. There are circumstances where the use of RFI's is abused, and simply creating paper to justify unwarranted claims. Such a circumstance occurs when RFI's are continually being issued when the information is clearly shown on the documents. In this case, either the person reading the drawings is working outside of the scope of their capability, or the intent is to generate paper to help support what might otherwise be an unjustifiable claim.

Read in another language

Last edited 1 month ago by Bentogoa

® Mobile Desktop Content is available under CC BY-SA

unless otherwise noted.

Terms of Use Privacy

RFQ- -REQUEST FOR QUOTATION

Search Wikipedia

A request for quotation (RFQ) is a standard business process whose purpose is to invite suppliers into a bidding process to bid on specific products or services. RFQ generally means the same thing as IFB (Invitation For Bid). [1]

An RFQ typically involves more than the price per item. Information like payment terms, quality level per item or contract length may be requested during the bidding process.

To receive correct quotes, RFQs often include the specifications of the items/services to make sure all the suppliers are bidding on the same item/service. Logically, the more detailed the specifications, the more accurate the quote will be and comparable to the other suppliers. [original research?] Another reason for being detailed in sending out an RFQ is that the specifications could be used as legal binding documentation for the suppliers.

The ubiquitous availability of the Internet has made many government agencies turn either to state-run or vendor operated websites which provide listings of RFQs as well as RFIs and RFPs. Many allow vendors to sign up at no charge to receive e-mails of requests either generally or for specific categories of product or service for which there is an interest. In some cases, the entire process is done on-line with responses as scanned documents or PDF files uploaded to the server; in other cases, or for legal reasons, a response must be sent in hard copy form and/or on CD/DVD disc or flash drive by mail or delivery service.

The suppliers have to return the bidding by a set date and time to be considered for an award. Discussions may be held on the bids (often to clarify technical capabilities or to note errors in a proposal). The bid does not have to mean the end of the bidding. Multiple rounds can follow or even a reverse auction can follow to generate the best market price.

RFQs are best suited to products and services that are as standardised and as commoditised as possible, as this makes each supplier's quote comparable. In practice, many businesses use an RFQ where an RFT or RFI would be more appropriate. [2]

An RFQ allows different contractors to provide a quotation, among which the best will be selected. It also makes the potential for competitive bidding a lot higher, since the suppliers could be quite certain that they are not the only ones bidding for the products.

Requests for quotations are most commonly used in the business environment but can also be found being applied to domestic markets.

Read in another language

Last edited 1 month ago by Fitindia

® Mobile Desktop Content is available under CC BY-SA 3.0 unless otherwise noted.

Terms of Use Privacy