A Request For Information (RFI) is a document used to gain information from vendors or suppliers about their capabilities, products, or services. It is designed to provide general information needed to begin researching potential solutions and develop a request for proposal. An RFI does not usually result in an award of a contract or service agreement.
A Request for Proposal (RFP) is a formal document used to solicit proposals from potential vendors or service providers. It contains important details about the project, such as the estimated timeline and budget, requirements for responses, guidelines for submitting proposals, and evaluation criteria. An RFP typically results in the award of a contract or agreement between the two parties.