What is a request for proposal for procurement?

Designed to solicit bids from qualified vendors, a request for proposal (RFP) is a procurement document that announces and describes a project or purchase request.

Nearly all government agencies and many private companies use RFPs in their procurement process. This important document describes the scope of a project or details what the organization wants to buy. They can be open to any company that qualifies or sent by invitation only to a select set of firms.

Essential elements of a request for proposal.

Buyers and contractors like to use a request for proposal because it eliminates the guesswork from the procurement process. RFPs include everything a potential supplier or subcontractor needs to know to create a fair and accurate proposal. Even so, there are a few key elements that you should always consider because they can make or break your bid.

Below is a list of some critical things to watch for in an RFP:

In business today, nearly all Requests for Proposals allow companies to respond electronically. If you decide to do so, make sure to use a secure e-signature tool that can help ensure your bid is accepted. Take a moment to discover more about what’s possible with Acrobat Sign today.