Glossary
Terms & Glossaries of Shipping and Trading
Firm Indication
Firm Indication is a mere statement of a principal's ideas. It is non binding, and should it later lead to a firm offer or bid by either party, the offer doesn't need to be in strict conformance to the indication preceding it. (good commercial practice suggest that it should not be miles apart either) It is an opening statement to get a commercial dialogue on a certain business going.
