What Is A Tender Proposal?
While many people in the industry already know what a tender proposal is and how to submit one, there are still others who either don’t know what a tender proposal is at all, or they have some idea as to what it is, but they just aren’t sure. This article is for those who don’t know what a tender proposal is, or they don’t understand it very well.
Within the procurement field, the term tender proposal is used to “describe the response from potential suppliers to a request for proposal (RFP)”. A tender proposal is made up of three factors including an overview of the company, pricing and a response to specific requests included in the request for proposal.
Although a tender proposal might look different when looking at two proposals from two different industries, the format used in the tender proposal writing process is standardised with the most important aspect of the proposal being the deadline at which it is due.
Every request for proposal has a deadline and any tender proposals submitted after that deadline are not accepted. This is where contract law comes into play and creates a set of rules for the proposal process.
Let’s take a closer look at the three factors that every tender proposal must have:
As we mentioned earlier, every tender proposal must have three sections, the overview of the company, pricing and the response to specific requests included in the RFP.
Company Overview- the company overview should include the company’s background within the industry and any projects successfully completed by the company or previous contracts awarded to the company. This will help to show that the company is able to fulfil the requirements of the contract.
Pricing- indicate all pricing factors when submitting a tender proposal as this will ensure that the customer understands the pricing options. Include multiple pricing options if those are being offered.
Response- the response portion of the tender proposal is where the company provides solutions to the client’s needs and shows how they can meet those needs through either goods or services. You could choose to use the structure of the request for proposal as a guide, making the tender proposal easier to read and understand and add any documentation that can back up your proposal.
To learn more about the tender proposal writing process or for assistance with your tender proposal, contact Tender Ready today and let one of our experts assist you and answer any questions you might have.
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