Request for Proposal

Glossary Page

A form of procurement invitation where a company or organization publicly declares the availability of funds for a specific project or program, and companies can submit bids to undertake the project. The Request for Proposal (RFP) delineates the bidding procedure, contractual conditions, and instructions on the bid's structure and presentation. An RFP generally welcomes bids from a diverse pool of participants, fostering open competition among companies seeking opportunities.

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