<P> The RFP presents preliminary requirements for the commodity or service, and may dictate to varying degrees the exact structure and format of the supplier's response . Effective RFPs typically reflect the strategy and short / long - term business objectives, providing detailed insight upon which suppliers will be able to offer a matching perspective . </P> <P> Similar requests include a request for quotation (RFQ), whereby the customer may simply be looking for a price quote, and a request for information (RFI), where the customer needs more information from vendors before submitting an RFP . An RFI is typically followed by an RFP or RFQ . </P> <P> In principle, an RFP: </P> <Ul> <Li> Informs suppliers that an organization is looking to procure and encourages them to make their best effort . </Li> <Li> Requires the company to specify what it proposes to purchase . If the requirements analysis has been prepared properly, it can be incorporated quite easily into the Request document . </Li> <Li> Alerts suppliers that the selection process is competitive . </Li> <Li> Allows for wide distribution and response . </Li> <Li> Ensures that suppliers respond factually to the identified requirements . </Li> <Li> Is generally expected to follow a structured evaluation and selection procedure, so that an organization can demonstrate impartiality - a crucial factor in public sector procurements . </Li> </Ul>

What is the difference between an rfp and rfq