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You are here: Home > Business terms > Formal Bid or Offer

Term: Purchasing -> Formal Bid or Offer

Term:

Formal Bid or Offer

Definition:

A bid which must be forwarded in a sealed envelope and in conformance with a prescribed format to be opened at a specific time.

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Computes the average cost base (or cost per share) for a series of stock or mutual fund purchases.

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