binding offer
Defined in 1 dictionary — U.S. Code
United States Code
42 U.S.C. § 6241 — under this section
The term “binding offer” means a bid submitted by the State of Hawaii for an assured award of a specific quantity of petroleum product, with a price to be calculated pursuant to paragraph (2) of this subsection, that obligates the offeror to take title to the petroleum product without further negotiation or recourse to withdraw the offer.