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Investments glossary

Request for Proposal (RFP)

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Know\'st thou the land where the lemon-trees bloom, Where the gold orange glows in the deep thicket\'s gloom, Where a wind ever soft from the blue heaven blows, And the groves are of laurel and myrtle and rose

— Johann von Goethe

A request for proposal (RFP) is a business document that announces and provides details about a project, as well as solicits bids from contractors who will help complete the project. Most organizations prefer using RFPs, and, in many cases, governments only use requests for proposal. A request for proposal for a specific program may require the company to review the bids to examine their feasibility, the health of the bidding company, and the bidder’s ability to do what is proposed.



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