Pitch Dictionary by pitch.dog
Bidding, estimating & procurement · Working

Firm bid

Also called: fixed bid

ELI5

A price meant to commit more strongly to a defined scope, subject to stated assumptions and change mechanisms.

Used in conversation

“Let’s confirm the firm bid before the director starts the next treatment draft.”

Definition

A price intended to commit more strongly to a defined scope, subject to stated assumptions and change mechanisms.

Here “Firm bid” means: A price intended to commit more strongly to a defined scope, subject to stated assumptions and change mechanisms.

Pitch context

You may hear this during a commercial brief, treatment, bid, award or pre-production process.

Why it matters: Helps interpret the brief, director treatment, bid, award, production process and campaign deliverables.

Connected terms

  • Ballpark estimateA ballpark is an early rough range; a firm bid commits against a defined scope and stated assumptions.
  • Cost-plusA firm bid prices a defined scope; cost-plus charges qualifying actual costs plus an agreed fee structure.
  • EstimateAn estimate can remain provisional; a firm bid commits more strongly to a defined scope and price, subject to stated qualifications.
Sources & evidence · 6

Direct term-level sources and supporting source families.