bid proposal definition
A bid proposal is an explanation of the services or products offered at an estimated cost to a company. When the bid proposal is unsolicited, there is no contractual agreement between the bid recipient and its author. If the proposal is submitted in response to a request for proposal (RFP), it can be accepted as a bid later in the contracting process. The bid proposal is often submitted with the use of a bid form. This can be handwritten or printed from software used for professional bidding. Generally, the form is completed in duplicate, with the one copy being kept on file by the bidder and the other sent to the business requesting the bid.