Request For Proposal - RFP
Categories: Regulations
We fill one of these things out at Shmoop Central all the time. It's a formal notice sent out by (usually) government buyers of stuff.
Why so formal? Why the ping to vendors with a format attached, asking for tons of background info on the vendor? Corruption. Yes, we have it here in America. Somalia hasn't monopolized the skill. We had so many under-the-table dealings 100 years ago when the gov people bought stuff...that we had to formalize the process so that everything was above board, disclosed, clear. Ish.
So now, an RFP asks everything from "How are you capitalized?" to "Are you COPPA and HYPPA-compliant?" to "Who are the board of directors of your firm and what are their backgrounds?" And on and on.
The goal? Integrity-boost. And yes, it'd be cool if that were a thing you could add to Jamba Juice stores in D.C., but it hasn't happened yet.
