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 ?
A $50.00 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. No deposit is required for Request for Proposals (RFP).
So how could my client make a reasoned assessment and then a bona fide bid without understanding the legal implications?
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.