View random article

What Is a Bid Proposal?

A bid proposal is a document that provides detailed information about the services and/or products that a company offers. This information includes the nature and description of the services and/or products, together with the corresponding costs. A bid proposal is given to other entities with the goal of signing them on as customers.

A bid proposal can either be solicited or unsolicited. A solicited bid proposal is usually a response to a Request for Proposal (RFP). Since the bid is requested by the potential customer, the bid proposal can be considered as an official document later on in the process. In contrast, unsolicited bid proposals do not imply a contractual agreement between the two parties.

Bid proposals are used in practically any industry today. As such, the details of a bid proposal can be very different, depending on the services or products that are being sold. For example, one may send in a bid proposal for providing content for a web site. This proposal may then contain information such as the timeline of the project, the costs, the specifications of the content, and so on. On the other hand, a bid proposal for providing food for a company party may contain information such as the menu, the cost per head, and so on.

Bid proposals may be written by hand or typed out. More and more, there are bid proposal writing software that are used for professional bidding. When submitting a bid proposal, the author generally makes two copies - one to be kept by the recipient and one for the author’s records.

Featured in Finance