Unsolicited Offers definition
Unsolicited Offers means written offers to supply goods or to perform services by vendors that were not requested to submit such offers. Unsolicited offers are normally received in either of the following circumstances: a bid solicitation was issued for an existing requirement, and a vendor that was not solicited submits a bid; or a vendor, on its own initiative, offers to supply goods or to perform a service for which no current requirement is held.
Examples of Unsolicited Offers in a sentence
Notwithstanding the foregoing sentence, either the Bank Board or the Bing▇▇▇ ▇▇▇rd may consider unsolicited bona fide third-party offers to purchase its business, stock or assets ("Unsolicited Offers") if it determines in good faith after consultation with legal counsel that such action is necessary for it to act in a manner consistent with fiduciary duties under applicable law.