A combined advisory RFP should make the relationship between financial and legal work explicit. Otherwise, bidders may price separate reports while the buyer expects a coordinated answer to one business question. Define the decision, professional boundaries and evidence interfaces before comparing the proposed team or fee.
A combined advisory RFP should make the relationship between financial and legal work explicit. Otherwise, bidders may price separate reports while the buyer expects a coordinated answer to one business question. Define the decision, professional boundaries and evidence interfaces before comparing the proposed team or fee.
State the entities, jurisdictions, project stage, known records and intended timetable. Explain the business question the engagement will support. Avoid instructing bidders to confirm a preferred legal or financial conclusion; ask them to identify the work needed to assess it appropriately.
Separate information that can be shared during sourcing from material requiring controlled disclosure after conflict review or appointment. Have the organisation's legal owner determine the appropriate arrangements for the matter.
List the expected financial analysis, legal work and coordination outputs. Ask bidders to state exclusions and dependencies. Name the points where one professional's conclusion changes another's assumptions, and require a proposed process for resolving those interfaces.
For example, a legal review may identify a condition that affects when a modelled receipt can occur. The RFP should ask how the team will update the financial analysis and communicate the effect, rather than leave reconciliation outside both scopes.
Ask who performs and reviews each workstream, which entities contract with the buyer and whether other specialists are involved. Require fees to identify stages, assumptions, optional work and the process for additional scope. A broad fixed-fee headline can be misleading when essential document review is excluded.
Request the professional-status and conflict-review information relevant to the proposed roles. Verification should be scoped to the service and jurisdiction rather than rely on general firm credentials.
State the intended form of deliverables, review owners and required issue register. Ask how the team distinguishes verified facts, assumptions and unresolved matters. Have the appropriate professionals review engagement terms concerning reliance, confidentiality and related issues.
Before award, reconcile differences in evidence coverage and coordination. Carry the accepted scope into the engagement letters and the project plan. A good RFP produces a team whose separate responsibilities can be understood together, rather than several impressive proposals that leave the business responsible for discovering and reconciling inconsistent conclusions after the work is finished.
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