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bid vb

: to offer (a price) for payment or acceptance
: to make a bid
: state what one will pay or take in payment [a contractor bidding for a job]
bid·der n

n 1 : the act of one who bids
2 a : a statement of what one will pay for something
b : a statement of what one (as a contractor) will charge for something (as supplies or labor)
3 : an opportunity to bid

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.