Definitions (3)
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.
Articles related to 'bid'
Business Tips
The Price of Competition
Competition is valuable. Don't give it away; instead, get paid to play. For example, if someone asks you to bid, merely to increase competition and with no intention of giving the product/service/deal ... Read more
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