Glyphosate at 30-40% is labeled (well, not all formulations - obviously check the labels) for cut stump treatment and it works.
Tordon 22K (active ingredient is picloram) works very well too (most often, a little better than glyphosate). It does tend to spread in the soil a little more than other herbicides.
Tordon RTU is easier to come by and is probably the "standby" stump treatment for most private landowners I work with. It is picloram and 2, 4-D. Already has a dye in it and requires no mixing.
Garlon 4 (ingredient: triclopyr) is more effective on most species than even Tordon...but it is also more expensive.
Crossbow is a lower concentration of triclopyr (to reduce cost) mixed with 2, 4-D (a cheaper herbicide) to maintain efficacy. It is probably between gylphosate and Tordon.
Arsenal (imazapyr) is another, but I don't see that one used as much around here...but it works on most species.
Ohio State has a nice chart showing relative effectiveness of each herbicide that you can check against the species you need to control.
Factsheet click here.
You might ask if they have a chemical preference they'd like you to use/include in the bid. If they don't care and you are competing with other bidders, you probably want to budget the lowest labeled rate of glyphosate... That is not what I'd use for my own project (or when working for others)...but it will be the cheapest and if they are just looking at one number you need that to be low. It is not like you are putting water on the stumps...it works, just not as well as Garlon. Maybe even ask if you can submit two proposals - one with Round-up and one with Garlon so they can see that they are only paying a very small percentage (vs. the cost of a whole project) for a more effective product.