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 specific job or jobs within prescribed time, and not exceeding a proposed amount. The bid receiving party may reject the bid, make a counter offer, or turn it into a binding contract by accepting it.

3. Financial Market : Highest price at which prospective buyers are willing to buy commodities, foreign exchange, or securities.


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