Firm Offer Definition: A firm offer is an offer that is open for consideration for a specific time period or at a particular event, and within this parameter, it cannot be revoked. While offers are revocable before they are accepted, there is a period of up to three months after acceptance, in most cases, where either party can revoke a contract or agreement.
In some cases, a firm offer can be irrevocable for a specific type of service or goods. A firm offer can be terminated if the offeree doesn’t accept the terms of the offer, makes a counter-offer, or proposes changes to the original offer.
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