If someone wants to sell a stock, they can request dealers to provide offers for its purchase. A “bid wanted” notice serves as a means for the seller to inform dealers that they are seeking offers from potential buyers. These notices are commonly featured in a publication known as the pink sheets, which specifically lists stocks that are not traded on major stock exchanges. The pink sheets are printed on pink paper and display the prices at which dealers are prepared to buy these stocks.
A bid wanted notice is a term used in the securities market to indicate that a dealer is seeking bids from potential buyers for a security that is up for sale. This notice is commonly found in the pink sheets, which are daily publications listing over-the-counter stocks, their market-makers, and their prices. Published by the National Quotation Bureau, the pink sheets serve as a platform for dealers to attract potential buyers by posting bid wanted notices for specific stocks. This example demonstrates how a bid wanted notice functions in the securities market. When a dealer wants to sell a security, they can use a bid wanted notice to indicate their interest in receiving bids from anyone interested in purchasing the security. This facilitates a quick and efficient process for the dealer to find a buyer.
A bid wanted is a request made by a seller to potential buyers to submit their offers or bids for a specific item or service.
When a seller wants to sell a particular item or service, they can issue a bid wanted notice to potential buyers. Interested buyers then submit their bids, and the seller can choose the most favorable offer.
No, a bid wanted is not legally binding. It is merely an invitation for potential buyers to submit their offers. The seller is not obligated to accept any of the bids received.
Yes, a bid wanted can be withdrawn by the seller at any time before accepting an offer. The seller may choose to cancel the bid wanted if they no longer wish to sell the item or service.
Yes, a bid wanted can be modified by the seller. They may choose to change the terms, conditions, or deadline for submitting bids. However, any modifications should be communicated clearly to potential buyers.
No, a bid wanted should not be used for illegal activities. It should only be used for legitimate purposes, such as selling legal goods or services. Engaging in illegal activities through a bid wanted can have legal consequences.
No, a bid wanted should not be used for discriminatory purposes. It is important to comply with anti-discrimination laws and ensure that all potential buyers are given equal opportunity to submit their bids.
No, a bid wanted should not be used for fraudulent purposes. Misrepresenting information or intentionally deceiving potential buyers through a bid wanted can lead to legal consequences.
Yes, a bid wanted can be used for confidential transactions. However, it is important to ensure that the necessary confidentiality agreements or non-disclosure agreements are in place to protect sensitive information.
Yes, a bid wanted can be used for online transactions. Online platforms or websites can facilitate the process of issuing bid wanted notices and receiving bids from potential buyers. However, it is important to be cautious and verify the credibility of the buyers before finalizing any transactions.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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