noun · B2

Bid

BID/bɪd/

A bid is an offer of a price for a contract or at auction: submit a bid; a takeover bid. As a verb, to bid. Offer is everyday; tender is a close formal twin in UK procurement. Three firms bid for the cleaning contract. Do not mix with bit.

Meaning

An offer of a price, especially for a contract or at auction; as a verb, to make that offer.

Examples

“Three firms submitted a bid for the rail cleaning contract.”
“She bid too low and lost the lot, which is the auction sense.”

Good to know

submit / win / lose a bid; a bid for. Verb: bid (bid, bid, bid). Close: tender / offer. Mix-up: bit. Procurement and auctions. Also: a bid to + verb (an attempt).

Near in meaning

tender

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