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Bid Proposal Template

Bid proposal template

by stacy

Is it your intention to obtain bids from a variety of contractors for a particular project? Instead of starting from scratch, you can make use of Signeasy’s free bid proposal template.

This document is delivered to numerous contractors who are responsible for delivering a specific product or service, and it contains information on the project and the deliverables that are expected. The purpose of submitting a bid proposal is to obtain the most competitive pricing options for the same project.

Based on the responses you receive to your bid proposal, you will be able to select the most cost-effective contractor to collaborate with you on that specific project.

Did you know: In the construction sector, bid proposal templates are the most often used template? Here’s a link to our construction proposal sample template.

How to sign a bid proposal template

  • Instructions on how to sign a bid proposal template
  • Download our bid proposal template in Word format for free.
  • Customize the proposal template to meet the specific needs of your project (you can also add your brand logo).
  • Upload the bid proposal template to SignEasy (sign up for a 14-day free trial!) and submit the bid.
  • To sign the document, click on the “Sign” button.
  • Select the section of the document that requires a signature from the drop-down menu.
  • Select the sort of online signature you wish to include in your document.
  • To complete the process, click “Finish.”
    Send out a signature request for the large proposal to several prospective contractors at the same time.

Important sections of the bid proposal template

Now that you’ve seen how simple it is to sign and send a bid proposal template, let’s take a closer look at the many sections that are contained in this type of document. This will assist you in filling out the form more effectively and, as a result, receiving a better response from contractors.

1. Greetings and introductions
Starting with information about your organization and the contractor who will be receiving the proposal is a good way to get the ball rolling. Along with this, add a summary of your company’s history and its key strengths.

Include the job title and job number in this section as well, so that both parties can quickly recognize what the bid proposal is all about.

2. Overview of the project and its budget
In this section, the goal is to pique the interest of contractors in the job being pitched while also providing them with an outline of the deliverables needed. It also gives them an indication of how much you are willing to spend on it, which is useful information.

The following is an example of how you can organize this part clearly and straightforwardly.

The following is a SignEasy tip: Outlining the project phases, deliverables, and timelines can assist the prospective contractor in determining how much to charge for the job.

3. Terms of the agreement
Once all of the bidding contractors have shared their prices with you, the contractor who receives the highest bid will sign a legally binding contract with your organization.

This contract begins by introducing all parties and stating that your company is planning a project and that the contractor is willing to perform the project under certain terms and circumstances. After that, the contract goes into detail about the project.

SignEasy Remember to always contact a local attorney before entering into a legal agreement to ensure that the conditions are beneficial and consistent with the laws of your city or state.

4. Contractor responsibilities, payment information, and expenses
You are referring to all of the responsibilities and deliverables for which the contractor will be held accountable. Also, specify how much the client will be responsible for paying the contractor for the project, as well as who will be accountable for any additional charges that may arise.

5. Who owns the work and how long it will last
What is the duration of the agreement’s validity, and who owns the rights to the finished project? Hopefully, the next section will provide answers to both of these critical questions.

Make a note of who has the authority to modify the duration of the project if the need arises in the Term clause. For now, you should include a specific statement in the Ownership provision stating that the Contractor does not have any ownership rights in the project deliverables at any point in time.

Standard clauses
In most contracts, clauses relating to modification and application of applicable law are incorporated. The former specifies the procedures to be followed in the event of a contract modification, while the latter specifies which jurisdiction’s law would be applied in the interpretation of this agreement. Ordinarily, most businesses choose the governing law that they are most familiar with as a rule of thumb.

Section 7: Acknowledgement of Contributors
Once this agreement has been signed by both parties, it will be deemed legally binding.

Without needing to schedule an in-person meeting, you can complete the transaction using an eSignature solution like SignEasy to seal the agreement. Because eSignatures eliminate the need for any human contact throughout the agreement procedure, doing business in a pandemic – and in a remote-first world – becomes significantly safer and easier.

Attachments and annexes are number eight on the list.
Once a contractor accepts a mandate, they are expected to carry out a wide range of responsibilities. These obligations will differ from project to project and from industry to industry, so you will need to clearly outline all of the responsibilities (Schedule A) for each project on a different page.

A payment schedule (Schedule B) that describes how much will be paid out to the contractor and when will be attached to the contract will also be necessary to establish payment expectations right from the start.

Bid proposal template FAQs

How do you write a bid proposal?

Download a bid proposal template in Word format.
Provide a thorough explanation of the project needs.
Make a list of all of the deliverables and their respective deadlines.
Set down a financial budget and payment schedules.
What is a bid proposal, and how does it work?
Bid proposals are a company’s method of soliciting/scouting for bids from contractors or suppliers to complete a specific task or project.

What exactly is the distinction between a bid and a proposal?
A bid is a detailed document that contractors submit in response to a request for proposals (RFP) from a corporation. It is primarily concerned with the expected charges that the contractor will charge for the assignment. Contractors who intend to compete with others based on value supplied should use proposals, which are considerably more extensive and are the preferred method for doing so.

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