Refers to a written bid or tender, often in the context of auctions or contract bidding. The term is somewhat formal and may be encountered in business or legal settings.
The bidding for the construction work will take place next week.
He made the highest bid at the auction.
Compound of 入れ (ire, 'putting in') + 札 (fuda, 'tag' or 'label'), literally 'putting in a tag', referring to the act of submitting a written bid.