Renew Offer

Renew Offer is a special form of Offer in international trade. It refers to the offeror sending the same or modified transaction terms to the offeree again after the original offer has lapsed due to expiration of validity, rejection, or counter-offer. Use cases include: the original offer has expired but both parties still wish to trade; the offeror adjusts terms and renews the offer after a counter-offer; the offeror proactively updates the quotation after market changes. Precautions: A Renew Offer must clearly state that it is a new offer and specify a new validity period; otherwise, it may be mistaken as a continuation of the original offer. If the original offer has lapsed due to the offeree's counter-offer, the Renew Offer must be accepted by the other party to form a contract. Difference from Counter Offer: A counter-offer is the offeree's modification of the original offer terms, constituting a rejection of the original offer and issuing a new offer; while a Renew Offer is the original offeror proactively making an offer again, possibly based on the original or new terms. Difference from Inquiry: An inquiry is the buyer asking about transaction terms and has no legal binding force; a Renew Offer has the legal effect of an offer. Difference from Acceptance: Acceptance is the offeree agreeing to the offer terms, and the contract is formed; a Renew Offer is an act of the offeror and requires the other party's acceptance.