Request For Proposal A Request For Proposal (referred to as RFP) is an invitation for suppliers, through a tender process, to bid on a specific product or service. An RFP is usually part of a complex sales process, also known as enterprise sales.
An RFP typically involves more than the price. Other requested information may include basic corporate information and history, financial information (can the company deliver without risk of bankruptcy), technical capability (used on major procurements of services, where the item has not previously been made or where the requirement could be met by varying technical means), product information such as stock availability and estimated completion period, and customer references that can be checked to determine a company's suitability.