Term -Bid

Bid means any response to a solicitation, including a proposal under a
negotiated acquisition. See the definition of “offer” at
2.101.   

Bid guarantee means a form of security assuring that the bidder–
    (1) Will not withdraw a bid within the
period specified for acceptance; and
    (2) Will execute a written contract and
furnish required bonds, including any necessary coinsurance or
reinsurance agreements, within the time specified in the bid, unless a
longer time allowed, after receipt of the specified forms.

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