Definitions (3)
Related Terms
1. General: Indication of willingness to buy or sell goods or services or to undertake a task, at a specific price and within a specific timeframe.
2. Contracting: Complete proposal (submitted in competition with other bidders) to execute specified job(s) within prescribed time, and not exceeding a proposed amount (that usually includes labor, equipment, and materials). The bid-receiving party may reject the bid, make a counter offer, or turn it into a binding contract by accepting it. See also offer and proposal.
3. Financial markets: Highest price at which prospective buyers are willing to buy commodities, foreign exchange, or securities.

Use 'bid' in a Sentence

Always make your opening bid either high or low, and then slowly creep back into a middle ground to get the best price.
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The man believed that his favorite sports team was the best, so he put a bid in because he thought it would be an easy and fun way to make some extra money.
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The man put an acceptable bid on the prize so we will have to wait to see if others bid as well.
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