Question: A procurement manager for a privately held manufacturing company is preparing a request for proposal ( RFP ) for raw materials. None of the RFP

A procurement manager for a privately held manufacturing company is preparing a request for proposal

(

RFP

)

for raw materials. None of the RFP recipients is an incumbent, and the award resulting from the RFP is expected to be of significant dollar value. The procurement manager is concerned that the lack of publicly available financial information could impact willingness of the prospective suppliers to submit proposals. Which of the following will BEST address the concerns of the prospective bidders?

Group of answer choices

Escrow account

Letter of credit

Surety bond

Payment bond

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