Term of the Day bid 1. General: Indication of willingness to buy or sell goods or services or to undertake a task, at a specific price and within a specific timeframe. 2. Contracting: Complete proposal (submitted in competition with otherbidders) to execute specified job(s) within prescribed time, and not exceeding a proposed amount (that usually includes labor, equipment, and materials). The bid-receiving party may reject the bid, make a counter offer, or turn it into a binding contract by accepting it. See also offer and proposal. 3. Financial markets: Highest price at which prospective buyers are willing tobuy commodities, foreign exchange, or securities. Learn more about this term Usage Example The investor offered a max bid of $20 for 1000 securities, the seller however declined that offer.