Request For Proposal - RFP
Definition of 'Request For Proposal - RFP'A type of bidding solicitation in which a company or organization announces that funding is available for a particular project or program, and companies can place bids for the project's completion. The Request For Proposal (RFP) outlines the bidding process and contract terms, and provides guidance on how the bid should be formatted and presented. A RFP is typically open to a wide range of bidders, creating open competition between companies looking for work. |
|
Investopedia explains 'Request For Proposal - RFP'A Request For Proposal for a specific program may require the company to review the bids not only examine their feasibility , but also the health of the bidding company and the ability of the bidder to actually do what is proposed. The RFP may provide detailed information on the project or program, but can leave leeway for the bidder to fill in the blanks with how the project would be completed or program run. |
Related Definitions
Articles Of Interest
-
How To Pick The Right Lawyer
Find out what factors to consider before hiring an attorney. -
Be Your Own Boss By Freelancing
Learn the pros and cons before you bid adieu to sales meetings and power suits forever. -
Should You Add A Securities License To Your Qualifications?
Clients love planners who sell securities, but a securities license takes a lot of work. Learn if the stress and study are worth it. -
Global Payments Still Feeling An Uncomfortable Squeeze
Global Payments' struggles create an opportunity, but beware of the long-term changes to the industry. -
How To Report A Tax Cheat
If you report a tax evader to the IRS, you could be eligible for a reward. -
GAAP And The IFRS Standards Convergence Efforts In 3 Substantial Areas
Understand the specific steps that have been taken in hopes of converging the GAAP and the IFRS accounting standards, despite the philosophically and culturally based methodological differences ... -
How Much Will Your Taxes Rise Based On Your Salary?
Find out how high your taxes will rise this year. -
Department Of Justice Sues Standard & Poor's Over Mortgage Crisis - Is Moody's Next?
The U.S. Department of Justice sued Standard & Poor's and is seeking more than $5 billion in damages. -
New Tax Laws To Watch Out For In 2013
With a new year comes new laws, and in 2013 the U.S. government has implemented several changes to the tax code. -
How Does The Affordable Care Act Affect Your Taxes In 2013?
Here is a look at how the Affordable Care Act will affect your taxes in 2013 and beyond.
Free Annual Reports