Offer Acceptance Periods: Can You Revive an Expired Offer?

Feb 14, 2019 · Learn the rules and tips for submitting a bid or proposal with a specified acceptance period and how to request an extension if needed. Find out when and how the …

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Up to 25% cash back · Offers With Expiration Dates. An offer with an expiration date is called an option, and it usually doesn't come for free. Say someone offers to sell you a forklift for …

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FAQs about Offer Acceptance Periods: Can You Revive an Expired Offer? Coupon?

What happens if an offer expires?

You may submit a longer period, but never a shorter period. If your offer expires, you should be allowed to revive it, unless there is a specific reason why revival would compromise the integrity of the procurement process. February 14, 2019 What Happens If an Offer Expires But the Agency Doesn’t Cancel the Procurement? ...

What is the difference between an expired offer and an expired contract?

There is a difference between an expired offer, which is where an offer or counter-offer was not accepted by the specified acceptance date and time, and an expired contract, which is where a contract with subject conditions was entered into but one or more of the subjects were not removed by the specified subject removal date. ...

What is an offer with an expiration date?

An offer with an expiration date is called an option, and it usually doesn't come for free. Say someone offers to sell you a forklift for $10,000, and you want to think the offer over without worrying that the seller will withdraw the offer or sell to someone else. ...

Can I add an expiration date to my offer?

You do have the option of adding an expiration date to your written offer. In that case, if you don’t hear back from the seller by the deadline you set, the offer dies automatically. When the offer expires, you’re free and clear to go ahead and bid on another house. ...

How long does an offer stay open if it expires?

Some offers come with an expiration date: “This offer is good until September 30.” When an offer does not specify how long it will remain open, the general rule is that it will terminate after a “reasonable” amount of time. How long is a reasonable amount of time will depend on: ...

What happens if a seller returns an offer after expiration date?

Acceptance happens by signing and returning the document. After that date, simply signing and returning is not enough. Rather, the extender of the offer has the right to approve the contract before it is binding. In other words, if the seller returns the signed offer after the expiration date, it is a counteroffer subject to buyer's approval. ...