Definition
Solicited or unsolicited submission by one party to supply (or buy) certain goods or services to (or from) another. Unlike an offer, a proposal is not a promise or commitment but, if accepted by the other party, its proposer is expected to follow through and negotiate for the creation of a binding contract. If submitted in response to a request for proposals (RFP), it normally constitutes a bid.
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Real Returns in the Textile Business
Over the years, we had the option of making large capital expenditures in the textile operation that would have allowed us to somewhat reduce variable costs. Each proposal to do so looked like an imme ... Read more
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