with prospective contractors, the submitted tender is known as a BAFO (best and final offer).

Components

A request for proposal requires the bidder to produce an original business proposal based on the buyer's needs. Depending on the RFP document's specification, a bidder may be required to decide upon project expectations, timetable, product design, and vendors. Other requested information may include basic corporate information and history, technical capability, product information.

Role in government procurement

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