bona fide bid

bona fide bid

A bid submitted in good faith, complete and in prescribed form which meets the conditions of the bidding requirements and is properly signed by someone legally authorized to sign such bid.
References in periodicals archive ?
00 bid deposit (check or money order, no cash) is required for each set of bid documents and will be returned to all submitting a bona fide bid.
Homebuyers would have more information at the time they view the property and so would make a reasoned assessment and therefore a bona fide bid.
At the time of lease expiration or renewal, this clause affords the laundry company the right of first refusal to meet any bona fide bid to lease the laundry room.
That expression of interest was thoroughly explored; however, following that process no bona fide bid was received or rejected.
obtain three bona fide bids for its escrow securities,
ISS' critical conclusion was that "Ultimately, the key issue in this contest is whether the two competing bids are, in fact, legitimate, bona fide bids that promise a high likelihood of consummation.