What is a bid

bid


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 time frame.


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.

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