1. In Contracting, this is a pre-qualifying of respondents for stated services, based on stated resources and experience. Done before sending out requests for proposals (RFPs). Contractors or vendors provide a written response to an advertisements. 2. In Financing, this only states a lender’s consideration of this financing. Response to a request for funding in writing. a project or transaction . Not expected to confirm a loan or any loan terms. Contrast to commitment letter .
Black’s Law Online Dictionary
