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.