A price offer in bidding is called a bid price. Someone bidding on something, like at an auction, can bid on the item, which is called the bid price.

I want to sell my car - my asking price is $3,000 but your BID price is only $2,500

A bid is an attempt, a monetary offer to buy a good at a certain price, or an offer for a price.

This means that the price bid for the contract will (if the winning bid) be the actual price paid by the buyer and cannot change (even if it results in a loss to the seller).

"Ask" is the price sellers are asking for their commodity. "Bid" is the price buyers are willing to pay.