Bid Proposal
ProcurementDefinition
A formal response to a solicitation that details how a contractor will meet requirements and at what price.
More Information
Bid proposals vary in complexity based on the solicitation type. They typically include information about the company, technical approach, management plan, relevant experience, personnel qualifications, and pricing. Strong proposals are compliant with RFP requirements, clearly written, and differentiated from competitors.
Example
A construction company submits a bid proposal including project approach, timeline, safety plan, and itemized pricing.