Second Bid Clause Samples
The "Second Bid" clause establishes a process where, after an initial bid is received, a second party is given the opportunity to submit a competing offer. Typically, this clause applies in contexts such as asset sales, procurement, or contract awards, where the seller or issuer seeks to maximize value or ensure fairness by inviting additional bids. By allowing a second party to submit a bid after seeing the terms of the first, this clause encourages competitive pricing and can help the seller or issuer secure more favorable terms, ultimately ensuring a transparent and competitive selection process.
Second Bid. Vacancies remaining after the first award will be posted by February 21 for a second bid by those Cabin Personnel who were eligible to and elected to split their total entitlement. Bids must be submitted prior to March 7.
Second Bid. An employee who receives a type A or B involuntary transfer notice shall have the opportunity to exercise a second successful bid.