A counter offer is a conditional response to an offer made by the other party in a negotiation. If the seller offers to sell at a price of $100, and the buyer responds with ‘I will offer you $90!’, that is a counter offer. Legally, a counter offer destroys the original offer, so the buyer may subsequently say ‘OK, I will accept the offer of $100’, but the original offer is no longer capable of acceptance and the buyer’s comments are themselves an offer which the seller may choose to accept. See also Acceptance.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
