What is the supplier's proposal?
Supplier's proposal is a written outline that contains the key conditions of the project to complete the supplier. The supplier's proposal is usually drawn up after the supplier spoke to the client to assess his needs, as well as the time and resources that the supplier will have to devote to the project. The supplier's proposal generally contains information such as estimated costs or "quote" and payment terms, the name and address of the supplier and the client, the detailed description or drawing of the project and the start and completion date. However, when comparing various proposals, it should take into account whether the supplier included materials. The client should also realize which, if there are, the responsibility that the supplier outlined as his own completed project. For example, if the project is related to the construction, this may require that the client or the supplier receive a certain building permit. The supplier's proposal should also realize whether the supplier will take over the liability for insurance, guarantees and project cleaning.
If the client decides to accept the supplier's proposal, he may decide to perform a basic DUE diligence before signing the final contract. Due diligence items could include the request of the supplier for its professional links to the project, the registration number of business or the name of the insurance carrier of the supplier, if possible. Given that disputes over construction contracts are not unusual, the client should also freely check for their local better business authority (BBB) to determine whether previous clients filed a complaint with a complaint.
Supplier proposal may require the client to enter the deposit before starting the project. Also, it is not unusual for the proposal of the supplier to outline interim payments for various milestones of the project. However, it is up to the client to ensure that the milestones were before paying the supplier and gathered signed confirmation from the supplier for any payment made in cashi.