What is a Request for Proposal?

Request for Proposal (RFP) definition

A request for proposal (RFP), sometimes known as a brief, is a verbal or written solicitation made by a company or intermediary (such as an agency) looking to procure a service, product or asset – suppliers are expected to respond with a proposal which outline their offering and why it is superior to competitors. Good RFPs provide in-depth information on short and long-term goals of the project.

Related terms include request for quotation (RFQ) and request for information (RFI).