A formal offer by a contractor, in accordance with specifications for a project, to do all or a phase of the work at a certain price in accordance with the terms and conditions stated in the offer.
EXAMPLE:
The bid for the job was $25,000.
BID
A formal offer by a contractor, in accordance with specifications for a project, to do all or a phase of the work at a certain price in accordance with the terms and conditions stated in the offer.
EXAMPLE:
The bid for the job was $25,000.