Agreement to Bid
Updated 17 October 2025
This Agreement to Bid outlines a commitment between a Bidder and a Seller regarding an item intended for auction. The Bidder agrees to place a minimum bid by a specified date, backed by a deposit. The Seller guarantees the item's condition and market value, while retaining the right to withdraw the item or select another bidder, in which case the deposit is fully refunded.
Agreement to Bid
This agreement is made on [date] between [bidder name], hereafter “Bidder,” and [seller name], hereafter “Seller”, with regards to [item], hereafter “The Item,” which Seller desires to auction off:
The Seller guarantees that the Item is [description] in [condition] condition, with a market value of [amount].
The Bidder agrees to bid at least [amount] on the Item, provided that it is offered to him/her no later than [date]. The Bidder agrees to bid this amount no later than [number] days after the offer is extended.
The Bidder has submitted a deposit of [amount]. If the Bidder is offered the Item by [date] and does not bid, or if the Bidder bids lower than the agreed amount, the damages that the Seller subsequently endures will be subtracted from the deposit. If the damages exceed the deposit amount, the Bidder will be held liable for the difference.
The Seller retains the rights to withdraw the Item from bidding, or to select another Bidder. In either case, the security deposit will be returned to the Bidder in full.
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[bidder name] |
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[seller name] |
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About this template
What is this template?
Agreement to Bid is a free, ready-to-use Commercial law template you can open, customize, and download on GitLaw. It gives you a professionally structured starting point, so you never have to draft from a blank page. The wording is plain and modern, organized into clear sections that are easy to read, edit, and adapt to your own situation before you share or sign it.
When should you use it?
Reach for this Commercial law template whenever you need a reliable agreement quickly and want to be sure the essentials are covered. It suits individuals, freelancers, startups, and established businesses alike. Instead of paying for a document drafted from scratch, you can start here, tailor the details to your arrangement, and have a polished draft ready in minutes. Always review the final wording against the laws that apply where you live or do business.
What's typically included?
A well-drafted Commercial law usually sets out the parties involved, the scope of the agreement, and each side's rights and responsibilities. Expect sections covering key terms and definitions, how long the agreement lasts, how it can be ended, and what happens if something goes wrong. This template brings those building blocks together in a sensible order, so you can focus on the specifics rather than worrying about what to include. Open it to read the full document, then sign up to edit, negotiate, and e-sign it directly in GitLaw.