Pronunciation: [lˈast ˈɒfə] (IPA) 
The spelling of the phrase "last offer" is quite straightforward. In International Phonetic Alphabet (IPA), "last" is pronounced as læst, with the "a" sound as in "cat" and the "s" pronounced as an unvoiced "s". "Offer" is pronounced as ˈɒfər, with the "o" as in "lot", the "f" sound being unvoiced and the "er" pronounced as ɚ. Together, "last offer" refers to the final proposal or bid given in a negotiation or sale.
Last offer refers to the final proposal or proposition made by an individual, company, or party involved in a negotiation or business transaction. It is the ultimate bid put forth to reach an agreement or settlement before the negotiation process concludes. The last offer is typically presented when both sides have already exchanged previous offers and have not been able to reach a satisfactory agreement.
In most cases, the last offer is considered crucial as it represents the maximum or best terms that one party is willing to propose. It is often seen as the last chance to secure a deal before the negotiation potentially falls through. The content and terms of the last offer may vary depending on the situation, but it usually encompasses crucial elements such as pricing, terms of contract, additional provisions, and conditions.
The last offer also helps establish a timeline for decision-making, as it may come with an expiration date or a time limit for the other party to respond. It is important to note that the last offer may or may not be negotiable further, as it is intended to lay the terms for a final agreement. However, there may still be room for some adjustments or counteroffers within certain limits or constraints.
Ultimately, the last offer is a critical juncture in a negotiation, as it represents the final attempt to strike a deal, resolve disputes, or finalize terms between parties involved.
The word "last" derives from the Old English word "latost" which means "latest" or "final". In this context, "last" refers to the final or latest offer made in a negotiation or transaction. The word "offer" originates from the Old English word "offrian" which means "to present for acceptance or rejection". When combined, "last offer" signifies the final proposal or proposition given during negotiations or a business transaction.
