What is a typical validity period for RFP pricing after bid opening?

The typical validity period for Request for Proposal (RFP) pricing after bid opening is often set at 90 days. This duration provides both the issuing organization and the bidders a reasonable time frame to evaluate the proposals, conduct any necessary negotiations, and make informed decisions without excessive delays.

Setting the validity period at 90 days aligns with common industry practices, giving sufficient time for thorough assessment and ensuring that the pricing remains stable during the evaluation process. This time frame allows organizations to review submissions carefully, check references, and possibly engage in discussions or clarifications with bidders to refine their understanding of each proposal.

Longer periods, such as 120 days, are less common as they may introduce uncertainty regarding market conditions and costs, possibly leading to outdated pricing when the contract is eventually awarded. Similarly, shorter periods like 30 or 60 days may not afford sufficient opportunity for adequate evaluation or negotiations, which is critical in ensuring that the selected vendor meets the organization's expectations and requirements. Thus, a 90-day validity period strikes an effective balance between ensuring responsiveness and allowing due diligence in the selection process.