An offeror is an individual or entity that makes a proposal or offer to enter into a contract with another party, known as the offeree. The offeror initiates the contractual process by outlining the terms, conditions, and terms of the proposed agreement. This offer may be communicated verbally, in writing, or through conduct, and it typically expresses the offeror’s intention to be legally bound by the terms if the offeree accepts. In contract law, the offeror retains the right to revoke or modify the offer until it is accepted by the offeree, at which point a legally binding contract is formed.
- One who makes an offer to another.
- Someone who presents something to another for acceptance or rejection.
A person, company, or organisation that offers to buy something from another person, company, or organisation.
An offeror is an alternative term for a bidder.
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This glossary post was last updated: 29th March 2024.
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