Homonym: Bid (Offer)
A "bid" is an offer made by an individual or organization to purchase an item or service at a specified price. Bids are commonly used in auctions, where participants compete to buy items by proposing higher amounts. The highest bid typically wins the item, and the process ensures that the seller receives the best possible price.
In business, bids are often submitted in response to requests for proposals (RFPs) from companies or government agencies. These bids outline the terms, pricing, and qualifications of the bidder, allowing the entity to select the best option for their needs.