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Finance Dictionary and Glossary of Investment Terms
When the purchase price and commission for underwriting a new issue are negotiated, as opposed to using the competitive bid process.
A securities offering process in which the purchase price paid to the issuer and the public offering price are determined by negotiation rather than through competitive bidding.
Underwriting in which the purchase price and the public offering price are determined through negotiations between the issuer and a single syndicate, as opposed to through multiple competitive bidding. Most underwriting is negotiated.