Bid definition: Copy, customize, and use instantly
Introduction
The term "Bid" refers to an offer or proposal made by a party in response to a request for offers or proposals, typically in the context of a competitive procurement process. It is essential for determining the terms under which a party agrees to perform or deliver goods or services under specific conditions, including the proposed price, delivery schedule, and any other relevant conditions.
Below are various examples of how "Bid" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Bid" as an offer for goods and services
This definition ties "Bid" to an offer made for the provision of goods or services.
"Bid" means the proposal submitted by a party in response to a request for bids, outlining the terms, conditions, and price for the provision of goods or services under the terms of the agreement.
Definition of "Bid" as a response to a procurement process
This definition connects "Bid" to a competitive procurement process.
"Bid" refers to the submission made by a party in response to a procurement process, where the bidder proposes specific terms, prices, and conditions for fulfilling the contract.
Definition of "Bid" as a formal offer in a public tender
This definition links "Bid" to a public tender process.
"Bid" means a formal written offer made by a party in response to a public tender or invitation for bids, typically including the pricing, delivery, and other terms of the proposed contract.
Definition of "Bid" as a price proposal for a contract
This definition ties "Bid" to a pricing offer.
"Bid" refers to the proposal submitted by a party indicating the price and terms for executing a contract, including any specific conditions and obligations to be met.
Definition of "Bid" as an offer submitted in a competitive auction
This definition connects "Bid" to competitive auction scenarios.
"Bid" means the offer made by a participant in a competitive auction, detailing the price or terms under which the participant is willing to fulfill the contract requirements.
Definition of "Bid" as a fixed-price offer
This definition links "Bid" to a fixed-price arrangement.
"Bid" refers to an offer that specifies a fixed price for the provision of goods or services, as opposed to a cost-plus or variable price agreement.
Definition of "Bid" as a conditional proposal
This definition ties "Bid" to conditional terms.
"Bid" means a proposal that includes specific conditions or contingencies that must be satisfied before the offer can be accepted or executed.
Definition of "Bid" as a best and final offer
This definition connects "Bid" to a best and final offer submission.
"Bid" refers to the final, binding offer submitted by a bidder after negotiations, representing the best terms and price the bidder is willing to provide.
Definition of "Bid" as a proposal based on specifications
This definition links "Bid" to a response based on detailed specifications.
"Bid" means a proposal made by a party based on detailed specifications provided in the request for bids, addressing the requirements and conditions outlined in the procurement document.
Definition of "Bid" as a response to an invitation for bids
This definition ties "Bid" to an invitation process.
"Bid" refers to the offer submitted in response to an invitation for bids, detailing the terms, price, and other conditions as required by the requestor.
Definition of "Bid" as a sealed offer
This definition connects "Bid" to the concept of a sealed proposal.
"Bid" means a sealed proposal submitted by a party in response to a request for bids, where the offer remains confidential until the specified opening date.
Definition of "Bid" as a non-binding estimate
This definition links "Bid" to an estimate or preliminary offer.
"Bid" refers to an initial or non-binding estimate provided by a party, outlining the proposed price and terms for the potential contract, subject to further negotiation or acceptance.
Definition of "Bid" as a response including performance guarantees
This definition ties "Bid" to performance guarantees.
"Bid" means a proposal that includes the price, terms, and performance guarantees or bonds offered by the bidder to ensure fulfillment of the contract.
Definition of "Bid" as a time-sensitive offer
This definition connects "Bid" to urgency in the offer.
"Bid" refers to a proposal submitted within a specified timeframe, where the offer is only valid for a certain period and subject to acceptance within that period.
Definition of "Bid" as a proposal in a reverse auction
This definition links "Bid" to reverse auction scenarios.
"Bid" means an offer submitted during a reverse auction, where participants reduce their prices to secure the contract, typically aimed at obtaining the lowest possible price for the goods or services.
Definition of "Bid" as a part of a negotiation process
This definition ties "Bid" to negotiations.
"Bid" refers to an offer made during a negotiation process, which may be subject to changes based on subsequent discussions between the parties involved.
Definition of "Bid" as an offer subject to contract terms
This definition connects "Bid" to contractual terms.
"Bid" means an offer made subject to the terms and conditions of the contract to be negotiated, with the understanding that acceptance of the bid will form the basis for a binding agreement.
Definition of "Bid" as a proposal with optional items
This definition links "Bid" to optional elements in the offer.
"Bid" refers to a proposal that includes optional items or services, with pricing and terms for both the required and optional components of the agreement.
Definition of "Bid" as a proposal in response to a request for quotations
This definition ties "Bid" to a response to a request for quotations.
"Bid" means the offer submitted by a party in response to a request for quotations, specifying the price, terms, and conditions for the provision of goods or services.
Definition of "Bid" as an estimated offer for project execution
This definition connects "Bid" to project execution estimates.
"Bid" refers to an estimated offer submitted by a party to execute a project, including a proposed timeline, cost, and scope of work.
Definition of "Bid" as a competitive proposal
This definition links "Bid" to competitive bidding.
"Bid" means a proposal made in a competitive environment, where multiple parties submit their offers in response to a request for bids, competing on price and terms.
Definition of "Bid" as a tender submission
This definition ties "Bid" to a tender process.
"Bid" refers to a formal offer made by a party in response to a public or private tender, outlining the proposed pricing and terms for fulfilling the requested services or goods.
Definition of "Bid" as a price quote
This definition connects "Bid" to a pricing quote.
"Bid" means a price quote submitted by a party in response to a request for bids or quotations, detailing the cost for delivering goods or services.
Definition of "Bid" as a negotiated proposal
This definition links "Bid" to a negotiated offer.
"Bid" refers to a proposal made by a party during negotiations, outlining the terms and conditions that will form the basis of a contract once agreed upon.
Definition of "Bid" as an offer to perform under contract
This definition ties "Bid" to performing contract obligations.
"Bid" means an offer made by a party to perform the obligations under a contract, including providing goods, services, or other deliverables as specified in the request.
Definition of "Bid" as a price and condition submission
This definition connects "Bid" to price and conditions.
"Bid" refers to the submission of both price and conditions by a bidder, specifying the proposed cost for the work or product and the terms under which they would fulfill the request.
Definition of "Bid" as a detailed proposal with specifications
This definition links "Bid" to detailed specifications.
"Bid" means a detailed proposal submitted by a party in response to a request, outlining the specifications, price, timeline, and other relevant conditions for the requested work or supply.
Definition of "Bid" as a counteroffer to a previous submission
This definition ties "Bid" to a counteroffer situation.
"Bid" refers to a counteroffer made in response to a previous bid, modifying some or all of the terms, conditions, or pricing as part of ongoing negotiations.
Definition of "Bid" as a financial proposal
This definition connects "Bid" to a financial offering.
"Bid" means a financial proposal submitted by a bidder, detailing the proposed price and payment terms for the goods or services required under the agreement.
Definition of "Bid" as an exclusive proposal
This definition links "Bid" to exclusivity.
"Bid" refers to an exclusive offer made by a party, where they commit to providing goods or services on the specified terms and conditions, typically without allowing for competing proposals.
Definition of "Bid" as a provisional offer
This definition ties "Bid" to a provisional nature.
"Bid" means a provisional offer made by a party, which may be subject to further negotiation or approval before becoming final.
Definition of "Bid" as a fixed-amount proposal
This definition connects "Bid" to a fixed amount.
"Bid" refers to a proposal where the price is fixed and not subject to change, regardless of any variations in scope or conditions during the execution of the contract.
Definition of "Bid" as a legally binding offer
This definition links "Bid" to a binding offer.
"Bid" means a legally binding offer submitted by a party, which becomes an enforceable commitment upon acceptance, subject to the terms of the agreement.
Definition of "Bid" as a price adjustment proposal
This definition ties "Bid" to price adjustments.
"Bid" refers to a proposal that includes an adjustment to the original price based on specified conditions, such as market fluctuations or changes in the scope of work.
Definition of "Bid" as a non-exclusive proposal
This definition connects "Bid" to non-exclusivity.
"Bid" means a non-exclusive offer submitted by a party, where the proposer does not expect to be the sole provider and may be competing with other bids for the contract.
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