Definition, Meaning & Synonyms
initial-offer
noun
/ɪˈnɪʃəl ˈɔːfər/
Definition
The first proposition or bid made in a negotiation or transaction.
Examples
- During the contract negotiations, the company presented an initial-offer that was lower than expected.
- He was pleased with the initial-offer from the potential buyer, which encouraged him to proceed with discussions.
Meaning
An initial-offer refers to the starting point or first offer made by a party during a negotiation, often setting the tone for further discussions.
Synonyms
- starting bid
- first proposal
- opening offer
