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RFP - Request for Proposal
A Request for Proposal (RFP) is a document issued by an organization to solicit proposals from potential vendors or service providers for a specific project or service. RFPs outline project requirements, objectives, and evaluation criteria, enabling businesses to compare offers and select the best solution. The RFP process encourages competitive bidding and helps organizations find qualified vendors while ensuring transparency and accountability. RFPs are widely used in industries like construction, technology, and consulting.