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LSDefine

Simple English definitions for legal terms

firm bid

Read a random definition: Tenancy for Years

A quick definition of firm bid:

A firm bid is an offer made by a buyer to pay a specific price for something that may or may not be for sale. It is a binding offer that remains open until it is either accepted or rejected. A firm bid usually does not have any unusual conditions that might prevent its acceptance. This is different from an open bid, which can be altered after submission to meet competing bids, or a sealed bid, which is not disclosed until all submitted bids are opened and considered simultaneously.

A more thorough explanation:

A firm bid is an offer made by a buyer to pay a specific price for something that may or may not be for sale. It is a bid that remains open and binding until it is either accepted or rejected. A firm bid usually does not contain any unusual conditions that might prevent acceptance.

  • At an auction, a bidder makes a firm bid of $10,000 for a painting. This bid remains open and binding until the auctioneer accepts or rejects it.
  • A construction company submits a firm bid of $500,000 to build a new office building. This bid remains open and binding until the company is either awarded the contract or the bid is rejected.

These examples illustrate how a firm bid is an offer that remains open and binding until it is either accepted or rejected. It is a way for buyers to make a serious offer and show their commitment to purchasing something.

firma social | firm-commitment underwriting

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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