Final answer:
An RFP, or Request for Proposal, is a document issued to solicit proposals, often with details about the scope and requirements of a project. It's distinct from an RFI which is used to gather information rather than formal proposals. Business proposals stemming from an RFP include critical details like deliverables, timelines, costs, and payments.
Step-by-step explanation:
A document released by an owner agency to receive proposals is referred to as an RFP, which stands for Request for Proposal. This formal document solicits proposals from potential vendors or service providers and typically includes the scope of work, submission deadline, project timeline, and other relevant details. Unlike an RFP, an RFI (Request for Information) is used to gather general information from potential suppliers, and a CD (Conceptual Design) is often an early phase in the design process.
When writing a business proposal, it's important to include information about deliverables, schedules, costs, and payment terms. These details provide the structure necessary for a potential client to assess the feasibility and desirability of proceeding with the proposed transaction.