Billd Teams Up with American Express to Help Suppliers Extend Flexible Finance Terms Across U.S. Construction Industry
A document created by a property owner that announces, describes and solicits cost proposals from qualified contractors for a specified project. It’s common for public entities like schools or other government agencies to issue RFPs.
A Request for Proposal (RFP) is a document that solicits proposals from qualified contractors for a specific project. The RFP typically outlines the project scope, requirements, and evaluation criteria, allowing contractors to submit detailed proposals, including cost estimates and project timelines. RFPs are commonly used by public entities and large organizations to ensure transparency and competitive bidding in the procurement process.
An example of an RFP is a city government seeking bids from construction firms to build a new community center.
