A bid proposal template is a formal document that is used to explain the offer of goods or services at an estimated cost. A bid proposal is generally submitted with an agreement. It may be a brief or detailed document and usually depends on the type of job or offer. Substantially, some basic information about the goods or services along with the prices offered. The purpose of sending this proposal to different stakeholders is to make them your customers. This proposal may be solicited or unsolicited based on the needs of individuals. It will be solicited if written in response to any request for proposal and unsolicited if not written in response to any request for proposal. You will need to have a great format in order to win a project, whenever it is required to submit a proposal for bid. Importance of Bid Proposal: A bid proposal refers to any project that outlines the plans regarding the making and completion of a project. It includes the amount of time it will take for the project to be completed and whatever the cost may be. Usually, contractors create bids that stand out most to be secured by a client’s business.