A Request for Proposal (RFP) is a project-specific document that encourages companies or contractors to submit bids to complete the project’s scope and specifications. The request for proposals (RFP) explains the project, its objectives, and the terms of the contract.
It is always important to select the most qualified individual for any project when appointing a contractor to it. With the help of a Request for Proposal (RFP) template, you may set the bar higher by explicitly stating your expectations as well as the project needs.
Signeasy’s customisable Request for Proposal (RFP) template allows you to implement the finest RFP practises to help you secure providers with the appropriate capabilities.
We will go over the process of creating, signing, and submitting an RFP document.
How to sign an Request for Proposal template
Using a Request for Proposal template, learn how to sign it.
Gather the requirements for the RFP.
Replace the placeholder text with information specific to the project.
Upload the document to your computer.
To sign the document, click on the Sign button.
Select the sort of signature you want to include in your document.
With a single click, you can sign the document.
How to fill out an RFP template
If you are in the market for a vendor, this request for proposal template can be used to assist you in making an informed and confident procurement decision about which vendor to select. A clear and full request for proposals (RFP) will attract qualified contractors to submit proposals, making it easier for you to select the most qualified vendor.
Remember to double-check project specifics with all essential project stakeholders, including information technology (IT), finance, and legal, to ensure that no aspect is overlooked.
The following are some frequent details that are included in the majority of RFPs:
Background information on the company
A brief description of your company’s stature, target market, and industry should be included in this area in order to create an appealing picture of your organisation. Last but not least, these one or two lines should attract the attention of potential contractors and motivate them to work for your company.
Overview of the project
Introduce the project in the first one or two paragraphs of the RFP, right at the opening of the document. Contractors will be able to determine whether or not the project is something they can accommodate in terms of bandwidth and skill based on this information.
Objectives of the project
What are your hopes and expectations regarding the outcome of the project? What criteria will you use to determine whether it was a success? Ideally, this part will provide comprehensive answers to these concerns, and at the very least, it should outline the overall objectives of the project.
The scope of the work
You must clearly define the project specifications in order to ensure that vendors’ proposals satisfy your exact requirements. In this area, you must include the following pieces of information that are absolutely necessary:
Description of the project in detail
Deliverables for the project
Pricing that has been proposed
Timetable for the project
Will the project be divided into stages or stages be divided into stages? If so, what are the deliverables and dates for each phase, and when will they be completed? Vendors will be able to establish whether or not they have the resources and bandwidth to complete the project on time if this information is included in the contract.
We propose that you use a table like the one below to outline your schedule:
template for a request for proposals project schedule
The project’s completion date
You should specify a specific deadline by which you expect the vendor to complete the job.
Issues that are expected
The majority of the time, businesses can already identify potential bottlenecks that could prohibit the project from being completed. These could include everything from tight deadlines to out-of-date technology to resource constraints and personnel shortages.
Provide the vendor with as much information as can about these hurdles up front so that they are aware of what they are up against. Instead of receiving a large number of bid proposals that are unsuitable for your needs, you will only receive applications from suppliers who are confident in their ability to work around your limitations.
Budget that has been set
It is critical to state your budget in the RFP because each vendor will charge a different price for the same deliverables, making it a vital element of the process.
This will also serve as a guideline to assist vendors in planning their estimates for inclusion in their bid proposals.
Metrics for evaluation
These are the basic features and qualifications that your company requires from its vendors, and they are covered in this section. The information given in this document will assist you in shortlisting the most qualified candidates for your project.
Some of the most commonly used measures for evaluation are as follows:
Previous work experience in the project’s industry is required.
Case studies for past projects that are relevant to this project
Affordability is an important consideration (eg: usability or most affordable)
The average pace at which a project is completed
Customer satisfaction ratings are at a high level.
Questions pertaining to a specific project
If you were to meet with potential vendors in person, you would undoubtedly have a list of questions prepared for them. Make a list of all of your questions so that you can respond to them in the bid proposal. You might wish to inquire about the following:
Is there a trial term available from the vendor?
Do they have a plan in place for dealing with a crisis?
Who are their most significant competitors?
What will they do to make the product better than the market leader is the key question.
Can they design a product that is both cost-effective and equipped with the best-in-class features?
The responses provided by the vendors in the bid proposal will assist you in selecting the most qualified bidder for the project.
11. Requirements for submitting materials
Contractors should be provided with a set of guidelines to adhere to. Those that desire to submit a bid proposal must meet the following requirements:
At least 50 percent of the metrics in the evaluation section must be satisfied or exceeded.
Send proposals to [POC Name] at [Email] by [Date] so that they can be considered.
Include samples as well as customer testimonials.
Not more than [Number] pages should be included in the manuscript.
Include detailed solutions to the project-specific questions, as well as a budget and a timetable for the project.
Finally, you should define the steps that will be taken during the review process. Here’s something to think about:
Initial evaluations should be carried out
Follow up with candidates who have been shortlisted
Pitch sessions should be held.
Examine the quotations
The results of the final selection and scoring are revealed
Sign the contract with the contractor.
12. Confidentiality and RFP ownership are important considerations.
You should make it clear that the RFP is a confidential and proprietary document belonging to your organisation.
Remember to state clearly that it cannot be reproduced or distributed in any form (in whole or in part) without your express written approval. Here are some examples of confidentiality provisions that you can use as a guide.
13. Information about how to get in touch with us
In order to close your RFP, you must issue a call for bid submissions. Also include the contact information for the person who drafted the RFP so that suppliers can address any concerns or questions they may have about the document.
Why should you use Signeasy for RFPs?
Face-to-face meetings and physical document exchanges have become antiquated procedures, particularly following the adoption of COVID-19.
The use of eSignature solutions, especially in the age of digital documents, is essential for maintaining business continuity across distributed teams or partners.
Just some of the reasons why Signeasy is the chosen eSignature solution for so many businesses include the following:
It enables you to sign and share RFPs with vendors in a matter of seconds, from any location and on any device.
The ability to utilise and save RFP templates, allowing you to alter and reuse them for the next project is available.
Provides possibilities for signature fonts that are authentic and natural-looking.
Verifies that documents comply with the ESIGN Act, eIDAS, and other internationally recognised eSignature legislation.
The use of biometrics, passcodes, and SSL encryption to protect any documents that are signed and shared using Signeasy is highly recommended.Before you begin working on your next procurement cycle, make use of our template to give your RFP a stronger sense of organisation. Then, with our 14-day free trial, you may use Signeasy to sign and send the document out for free.