bid

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bid

n. an offer to purchase with a specific price stated. It includes offers during an auction in which people compete by raising the bid until there is no more bidding, or contractors offer to contract to build a project or sell goods or services at a given price, with usually the lowest bidder getting the job. (See: contract)

bid

noun advance, approach, estimate, licitatio, offer, offered price, overture, presentation, price, proffer, proposal, proposition, quotation, quoted price, submission, tender
Associated concepts: auction sale, bid bond, bid in, bid off, bidder, competitive bidding, proposal, upset bid, with reserve, without reserve
See also: appeal, application, assign, call, command, detail, dictate, direct, endeavor, enforce, enjoin, impose, insist, instruct, invitation, invoke, mandate, offer, order, overture, petition, pray, prescribe, proffer, propose, proposition, request, summon, summons, writ

BID, contracts. A bid is an offer to pay a specified price for an article about to be sold at auction. The bidder has a right to withdraw his bid at any time before it is accepted, which acceptance is generally manifested by knocking down the hammer. 3 T. R. 148; Hardin's Rep. 181; Sugd. Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn. St. R. 486; 8, Id. 408. Vide 0@ffer.

References in periodicals archive ?
While evaluation of the contractor's proposal is important, this review can provide only a prediction of what may happen and a description of how the contractor plans to perform.
Without verifying labor charges against the contractor's proposal as required by FBI policy, there is an increased risk of disbursing funds for unallowable charges.
The second is a Continuous Services Agreement to be used with a contractor's proposal for on-going services, such as yearly landscape maintenance or janitorial services.
In 21 of them the contractor's proposal was within 5% of EPA's estimated labor hours.
The government SOO is not made part of the contract per the Federal Acquisition Regulation, so it is essential that each contractor's proposal SOW adequately describes the solution and/or all of the work to be performed.
230) a contractor's proposal to provide educational services had the following notation on the bottom of each page: "All items under [the Schedule] are offered as an inseparable whole and cannot be divided in any way.

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