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English definition of “bid”

bid

verb     /bɪd/ (past tense and past participle bid)
[I or T] COMMERCE, FINANCE to compete to buy something by offering a particular amount of money for it: We have a keen interest in the property, although we have not made any definite decision to bid.bid for sth Potential buyers must register and bid for items online before the cutoff dates.bid sth for sth The previously unknown company bid $9.3 billion for the oil fields.
[I] to compete for work by offering to do it for a particular price: bid for sth Taylor-Stanley yesterday confirmed it had bid for the contract.bid on sth Follow these steps to bid successfully on a government contract.
[I] to compete to be chosen to do something: The city is bidding to host the 2020 Olympic Games.
(Definition of bid verb from the Cambridge Business English Dictionary © Cambridge University Press)
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