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.
McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.
References in periodicals archive ?
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.