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, 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 Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn.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 ?
Communication in the tendering procedure on the part of the contracting authority and the bidder is carried out exclusively via the project space of the awarding marketplace Metropole Ruhr.
The successful bidder of Cholistan block was SPEC who offered 270 WU, following by OGDCL who offered 105 WU.
Bidders with a potential opportunity will receive a package of basic conditions at the address: "Azerbaijan Airlines"CJSC, Baku, Bina settlement, Heydar Aliyev International Airport after transferring the participation fee to the following settlement account of the customer in the amount of 3,300 manat for the lot:
A senior official of the RCB told Dawn that the bidders were interested in sadder for advertisement as mostly people visited the commercial areas while advertisement on Peshawar Road at Chur Chowk and Tench Bhatta would be of no public interest.
Bidders and auctioneers can authenticate each other and then establish a common session key to protect their subsequent communications.
M/s Maqbool-Zarghoon JV was not only considered but evaluated as lowest evaluated bidder in two road lots as per their capacity and were awarded two contracts namely N-50 at the evaluated bid price of Rs.
As of press time, prospective bidders for CALAX include San Miguel Corp.
He said: "The Foundation appear to be the most likely bidder but they are not at preferred bidder status.
Let's suppose there are three bidders bidding on the two products, A and B.
The rules are still subject to consultation but bidders need to consider their position now so that they will be ready for the new rules.
The Debtor shall (i) provide reasonable assistance to Qualified Bidders in conducting their due diligence investigations, (ii) receive offers from Qualified Bidders and (iii) keep the CRO and his counsel and advisors reasonably informed of those actions listed in (i) and (ii).
To solve this problem, rather than formally enforcing contracts, eBay has established an innovative reputation system, which allows winning bidders to post ratings of sellers' actions that are publicly viewable (and vice versa).