Request for Proposal (RFP)

A Request for Proposal (RFP) is a formal document that organizations use to solicit bids from potential suppliers or service providers for a specific project or service. It outlines the project's requirements, objectives, timeline, and evaluation criteria. Companies send out RFPs to attract competitive proposals, allowing them to compare different offerings and select the best option. The RFP process helps ensure transparency and fairness in procurement, enabling organizations to make informed decisions.