bona fide offer

Meaning

A genuine, sincere, and legally binding proposal made in good faith without any intent to deceive. In corporate acquisitions or real estate, it refers to an offer that is serious, financially backed, and ready to be executed.

Examples

• The board of directors is legally obligated to review any bona fide offer from potential buyers.

  The board of directors is legally obligated to review any bona fide offer from potential buyers.

• We cannot proceed with negotiations until they present a bona fide offer in writing.

  We cannot proceed with negotiations until they present a bona fide offer in writing.

• The seller accepted the bid only after confirming it was a bona fide offer backed by proof of funds.

  The seller accepted the bid only after confirming it was a bona fide offer backed by proof of funds.

• To prevent frivolous bidding, the auction requires a deposit to secure a bona fide offer.

  To prevent frivolous bidding, the auction requires a deposit to secure a bona fide offer.

• Our legal team verified that the competitor's bid was indeed a bona fide offer to acquire our assets.

  Our legal team verified that the competitor's bid was indeed a bona fide offer to acquire our assets.

Common Mistakes

• ✗ They made a bona fides offer to buy our company.

  ✓ They made a bona fide offer to buy our company.

  'Bona fide' is the adjective (meaning 'good faith'), while 'bona fides' is a noun meaning 'credentials' or 'good faith' itself.

• ✗ The client gave a bona fide offer but they had no money to pay for it.

  ✓ The client gave an offer, but it was not a bona fide offer because they lacked the necessary funding.

  An offer cannot be 'bona fide' (made in good faith/genuine) if the party lacks the capacity or actual intent to fulfill it.

Related Expressions

Practice

• The real estate agent advised the seller to reject the verbal proposal and wait for a ___.

  💡 A serious, legally binding, and written proposal.

  Show answer

  bona fide offer

• Before we sign the letter of intent, we need to ensure this is a ___ and not just a market research ploy.

  💡 Genuine and made in good faith.

  Show answer

  bona fide offer