Each SM portfolio has a designated unsolicited proposal coordinator. After the unsolicited proposal undergoes an initial consideration, this individual will respond to the submitter, generally within 7 business days of receipt of the proposal, advising that its unsolicited proposal(s) was received and the date of such receipt. When appropriate, the letter will include the specific person and/or organization that the proposal was forwarded to for review. The letter should state that the submitter will be notified of the results of the review as soon as it is completed.
SM serves as the primary clearinghouse or facilitator until a decision is made whether to pursue an unsolicited proposal. The unsolicited proposal coordinator will follow up if proposal reviews are not completed in a reasonable time, generally 30 calendar days. A follow-up letter to the submitter will be issued providing an update on the status of the proposal.
Electronic records will be maintained by the unsolicited proposal coordinator for each unsolicited proposal received and will include:
