Bid proposal template

Are you looking to solicit bids from different contractors for a given project? Use Signeasy's free bid proposal template instead of starting from scratch.

This document is sent to various contractors that deliver a particular product or service, providing details about the project and the deliverables expected. The goal of a bid proposal is to garner the most competitive pricing options for the same job. 

Based on the responses you receive for your bid proposal, you will be able to choose the most affordable contractor to work with you on that particular project. 

Did you know: Bid proposal templates are most commonly used in the construction industry. Check out our construction proposal template here.

How to sign a bid proposal template

1. Download our bid proposal template.
2. Customize the proposal template to suit your project requirements (you can also add your brand logo).
3. Upload the bid proposal template to Signeasy (Sign up for a 14-day free trial!)
4. Click on the "Sign" button.
5. Click on the section of the document that requires a signature.
6. Choose the type of online signature you wish to add.
7. Click "Finish."
8. Send a signature request for the big proposal to multiple prospective contractors.

Important sections of the bid proposal template

Now that you know how easy it is to sign and send a bid proposal template, let's look into the different sections that are included in this type of document. This will help you better fill in the template and, in turn, receive a better response from contractors.

1. Introduction

Start off the proposal with details about your company and the contractor that will be receiving the document. Also include a short description of the legacy and strengths of your businesses.

This section should also include the job name and job number, so that both parties can easily identify what the bid proposal is all about.

2. Project and budget overview

The purpose of this section is to get contractors interested in the job being pitched and give them an overview of the deliverables involved. It should also give them an idea of how much you are willing to pay for it.

Below is an example of how you can lay this section out in a clear and simple way.

Signeasy tip: Laying out the project phases, deliverables, and timelines will help the prospective contractor better assess how much they should charge for the job.

3. Agreement terms

Once all of the bidding contractors have shared their rates, the one with the winning bid will sign a legally binding contract with your company. 

This contract starts off by introducing all parties, mentioning that your business is planning a project and that the contractor is willing to undertake the project under certain terms and conditions. 

Signeasy Tip: Before you enter into a legal agreement, always consult with a local legal advisor to ensure that the terms are favorable and aligned with your city or state's legislation.

4. Contractor duties, payment details, and expenses

Here, you refer to all the duties and deliverables that the contractor will be responsible for. Also, mention how much will be liable to pay the contractor for the project, and who will be responsible for any additional expenses.

5. Ownership of the work and term

How long is the agreement valid and who owns the rights to the completed project? This section will answer both of these important questions. 

In the Term clause, make note of who can modify the duration of the project if the need arises. Meanwhile, in the Ownership provision, you should clearly mention that the Contractor does not hold any ownership rights to the project deliverables at any point in time.

6. Standard clauses 

Modification and Applicable Law provisions are included in most contracts. The former states the rules for any changes made to a contract, and the latter mentions which jurisdiction's law will be used to interpret this agreement. As a rule of thumb, most companies choose the governing law they are most familiar with.

7. Acknowledgement section

Once both parties sign this agreement, it will be considered legally binding.

You may use an eSignature solution like Signeasy to ink the deal without ever having to line up an in-person meeting. By keeping your agreement workflow completely contact-free, eSignatures make doing business in a pandemic - and in a remote-first world - so much safer and easier.

8. Attachments and annexes

A contractor is expected to perform a wide range of duties once they accept a mandate. These responsibilities will vary from project to project and industry to industry, so you will need to clearly mention all the duties (Schedule A) for each project separately.

You will also need to set payment expectations right from the start, so be sure to attach a payment schedule (Schedule B) that details how much will be paid out to the contractor and when.

Bid proposal template FAQs

How do you write a bid proposal?

1. Download a bid proposal template.
2. Explain the project requirements in detail.
3. Outline all the deliverables and timelines.
4. Specify the budget and payment schedules.

What is a bid proposal?

Bid proposals are a company's way of soliciting/scouting for bids from contractors or suppliers to undertake a given job.

What is the difference between a bid and a proposal?

A bid is a detailed document that contractors share in response to a company's RFP. It focuses on the estimated costs that the contractor will charge for the mandate. On the other hand, proposals are even more detailed, and are the tool of choice for contractors who wish to compete with others on the basis of value offered.