Offeror Legal Meaning and Definition

Here is a simplified definition of the legal term Offeror.

Offeror (noun)

Definition: An offeror is a person or business entity that presents a proposal or bid for a contract, agreement, or business transaction. The offeror makes an offer with the intention to enter into a legally binding contract with another party referred to as an offeree. In general, an offeror initiates the process of creating a contract by stating the terms under which they are willing to be bound.