RFP (Request For Proposal)

An RFP (Request for Proposal) in procurement is a formal document issued by an organization to solicit detailed proposals from suppliers or vendors for a specific project, product, or service. It is typically used when the organization has defined needs or requirements, but wants vendors to propose how they would meet those needs — including technical solutions, pricing, timelines, and qualifications.

Key Characteristics of an RFP:

• Detailed Requirements: Describes the scope of work, specifications, evaluation criteria, and submission guidelines.
• Competitive Process: Multiple vendors respond, and proposals are evaluated to select the best fit.
• Binding Responses: Responses to RFPs are often legally binding once accepted.
• Evaluation Criteria: Includes cost, technical approach, experience, delivery time, and value-added services.

When to Use an RFP:

• When the project is complex or requires a customized solution.
• When qualitative factors (not just price) are important.
• When collaboration or long-term service is needed.