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OF THE ILLINOIS STATE TREASURERMICHAELW.FRERICHSRequest for Proposals Interactive Data and Electronic Trading System 37030019007 October 3, 2019Proposals due by 1:00 p.m. CT on October 18, 2019Ms.
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01
Research and identify potential vendors or service providers.
02
Define the scope and requirements of the project or services needed.
03
Prepare a clear and concise description of the project or services.
04
Include the desired timeline and budget limitations.
05
Develop evaluation criteria to assess and compare proposals.
06
Create a standardized template for the request for proposal (RFP).
07
Include a cover letter introducing your organization and the purpose of the RFP.
08
Provide instructions on how to submit the proposal.
09
Outline the format and structure required for the proposal.
10
Specify any mandatory requirements or qualifications that vendors must meet.
11
Include any additional documents or information vendors may need.
12
Set a deadline for proposal submission.
13
Review and evaluate the received proposals based on the defined criteria.
14
Select the most suitable vendor or service provider.
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Negotiate and finalize the terms and conditions of the contract.
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Notify the chosen vendor and any unsuccessful bidders.
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Begin the project or engage the selected service provider.

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Request for proposals is a document that solicits potential vendors to submit a proposal for a specific project or service.
Organizations or individuals seeking goods or services from potential vendors are required to file request for proposals.
Request for proposals is typically filled out by outlining the project requirements, evaluation criteria, and submission instructions for potential vendors.
The purpose of request for proposals is to allow organizations to compare different proposals from vendors and select the most suitable one for their project.
Request for proposals must include details about the project scope, budget, timeline, evaluation criteria, and submission instructions.
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