Counter-offer
Meaning
A counter-offer is a reply that changes the terms of an offer; it rejects the original offer and becomes a new offer the other side can accept.
Also written as Counter
Counter-offer explained
Fixture negotiations move through rounds of offers and counters on rate, laycan, demurrage and other points until both sides agree everything. Each counter is usually also firm for a short time.
Related terms
Firm offer
A firm offer is a binding offer open for acceptance for a set time; if the other side accepts in time and without changes, the deal is made.
Indication
An indication is a non-binding signal of the rate or terms a party might accept, used to test the market before firm offers are made.
Main terms
Main terms are the key commercial points of a fixture (ship, cargo, ports, dates, rate, demurrage and the CP form) agreed before the details.