Firm Offer definition: Copy, customize, and use instantly
Introduction
The term "Firm Offer" refers to a legally binding promise to keep an offer open for a specified period, during which the offeror cannot revoke the offer. In legal and contractual contexts, a "Firm Offer" is commonly used in sales and commercial transactions, providing assurance to the offeree that the terms will remain unchanged for the duration of the stated period.
Below are various examples of how "Firm Offer" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Firm Offer" as an irrevocable proposal
This definition ties "Firm Offer" to irrevocability.
"Firm Offer" means an offer made by a party that remains open and irrevocable for a specified period, provided it meets the conditions outlined in applicable laws or agreements.
Definition of "Firm Offer" as a time-bound contractual promise
This definition focuses on time limits.
"Firm Offer" refers to a legally binding commitment to keep an offer open for a specific time period, during which the offeror is prohibited from revoking it.
Definition of "Firm Offer" as a commitment under the UCC
This definition ties "Firm Offer" to the Uniform Commercial Code (UCC).
"Firm Offer" means an offer by a merchant, as defined under the Uniform Commercial Code, that is made in a signed writing and remains irrevocable for the time stated, or if no time is stated, for a reasonable period not exceeding three months.
Definition of "Firm Offer" as a guarantee in commercial transactions
This definition highlights commercial applications.
"Firm Offer" refers to a guarantee made in the context of commercial transactions, assuring the offeree that the terms of the offer will not change during the specified period.
Definition of "Firm Offer" as a seller’s commitment to terms
This definition ties "Firm Offer" to sales agreements.
"Firm Offer" means a seller’s binding commitment to honor the terms of an offer for a designated period, ensuring stability in negotiations or transactions.
Definition of "Firm Offer" as a non-revocable sales proposal
This definition focuses on sales proposals.
"Firm Offer" refers to a sales proposal that cannot be withdrawn or modified by the offeror during the agreed-upon period, providing certainty to the offeree.
Definition of "Firm Offer" as an enforceable promise
This definition ties "Firm Offer" to enforceability.
"Firm Offer" means an enforceable promise to keep an offer open for a specified period, during which the offeror cannot revoke or alter the terms.
Definition of "Firm Offer" as a legally binding offer
This definition highlights legal obligations.
"Firm Offer" refers to an offer that creates a binding obligation on the offeror to keep the terms open and unaltered for the duration specified in the offer.
Definition of "Firm Offer" as a merchant’s assurance of terms
This definition ties "Firm Offer" to merchant transactions.
"Firm Offer" means a merchant’s assurance in a signed writing to hold an offer open for a specified time, ensuring the offeree’s reliance on stable terms.
Definition of "Firm Offer" as a negotiated obligation
This definition focuses on negotiated commitments.
"Firm Offer" refers to an obligation negotiated and agreed upon by the parties, ensuring the offer’s terms remain fixed and enforceable for the stated period.
Definition of "Firm Offer" as an assurance in business transactions
This definition ties "Firm Offer" to business dealings.
"Firm Offer" means an assurance provided by the offeror in a business transaction to hold the terms of the offer open and unchanged for a specified duration.
Definition of "Firm Offer" as a written guarantee of terms
This definition focuses on written commitments.
"Firm Offer" refers to a written guarantee by the offeror that the terms of the offer will remain unchanged and irrevocable for the time specified in the document.
Definition of "Firm Offer" as a time-restricted commitment
This definition highlights time-restrictions.
"Firm Offer" means a commitment that remains enforceable and irrevocable within the time frame explicitly stated by the offeror or implied by the circumstances.
Definition of "Firm Offer" as a contractually binding proposal
This definition ties "Firm Offer" to contractual obligations.
"Firm Offer" refers to a proposal made under contractual terms that obligate the offeror to refrain from revoking or altering the offer within the agreed period.
Definition of "Firm Offer" as a binding offer in procurement
This definition focuses on procurement contexts.
"Firm Offer" means an offer submitted in a procurement process that is legally binding and cannot be withdrawn for the duration specified in the submission terms.
Definition of "Firm Offer" as a seller’s irrevocable promise
This definition ties "Firm Offer" to seller commitments.
"Firm Offer" refers to a promise made by a seller that is irrevocable for the agreed-upon time, ensuring stability in contractual negotiations.
Definition of "Firm Offer" as a pre-negotiation guarantee
This definition highlights pre-negotiation assurances.
"Firm Offer" means a guarantee provided before formal negotiations begin, ensuring the terms of the offer will remain fixed for the specified period.
Definition of "Firm Offer" as a legally protected assurance
This definition ties "Firm Offer" to legal protection.
"Firm Offer" refers to an assurance protected by law that prevents the offeror from revoking the offer during the agreed period, fostering trust in commercial transactions.
Definition of "Firm Offer" as a merchant’s contractual duty
This definition highlights merchant obligations.
"Firm Offer" means a contractual duty imposed on merchants to keep an offer open and irrevocable for a specified duration, in compliance with applicable commercial laws.
Definition of "Firm Offer" as a stability mechanism in negotiations
This definition ties "Firm Offer" to negotiation stability.
"Firm Offer" refers to a mechanism ensuring stability in negotiations by preventing the offeror from withdrawing or altering the offer within a specified timeframe.
Definition of "Firm Offer" as a fixed-term offer under UCC Article 2
This definition focuses on the UCC.
"Firm Offer" means a fixed-term offer made under UCC Article 2, requiring the offer to remain open and irrevocable for the time stated or a reasonable period not exceeding three months.
Definition of "Firm Offer" as a non-revocable commercial proposal
This definition ties "Firm Offer" to commercial agreements.
"Firm Offer" refers to a commercial proposal that is non-revocable for the stated period, ensuring the offeree’s reliance on the offer’s terms.
Definition of "Firm Offer" as an assurance in tender processes
This definition highlights tender offers.
"Firm Offer" means an assurance provided in tender processes that the offer’s terms will remain valid and unchanged until the specified expiration date.
Definition of "Firm Offer" as a fixed-price guarantee
This definition ties "Firm Offer" to price guarantees.
"Firm Offer" refers to an offer guaranteeing a fixed price for goods or services, which cannot be revoked for the stated period, ensuring price stability for the offeree.
Definition of "Firm Offer" as an agreement-driven commitment
This definition highlights agreement-based obligations.
"Firm Offer" means a commitment arising from an agreement between parties, ensuring the offer’s terms remain unchanged during the agreed period.
Definition of "Firm Offer" as a tool for reliance in contracts
This definition ties "Firm Offer" to reliance.
"Firm Offer" refers to an offer designed to allow the offeree to rely on its terms with confidence that the offeror cannot revoke it for a stated duration.
Definition of "Firm Offer" as a safeguard in legal agreements
This definition focuses on legal safeguards.
"Firm Offer" means a legally binding promise to hold the offer open for a specified period, providing a safeguard against revocation during that time.
Definition of "Firm Offer" as a component of enforceable negotiations
This definition ties "Firm Offer" to enforceability.
"Firm Offer" refers to a component of negotiations that ensures the offer’s enforceability and prevents its revocation for the stated duration.
Definition of "Firm Offer" as an irrevocable written statement
This definition highlights written irrevocability.
"Firm Offer" means a written statement made by the offeror that is irrevocable and binding for the time specified in the document.
Definition of "Firm Offer" as a period-specific obligation
This definition focuses on time-specific commitments.
"Firm Offer" means an obligation to keep an offer open for a specific period, ensuring the offeree can make decisions without the risk of revocation.
Definition of "Firm Offer" as a merchant’s binding declaration
This definition ties "Firm Offer" to merchant declarations.
"Firm Offer" refers to a binding declaration made by a merchant in writing, guaranteeing the terms will not change during the stated period.
Definition of "Firm Offer" as a pre-contractual assurance
This definition highlights pre-contract assurances.
"Firm Offer" means an assurance provided before formal contract execution, ensuring the terms of the offer remain binding and irrevocable for the specified duration.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.