Yes. The carrier workflow supports bid management while the bid is still in an editable state.
1Lowering a bid
If the bid remains editable, you can update it rather than creating a second competing offer. This is the cleaner way to respond if you want to sharpen the price or react after being outbid.
2Withdrawing a bid
If you no longer want the work, withdraw the bid instead of leaving it sitting live and hoping the customer ignores it. That gives the customer a cleaner decision set and keeps your own dashboard honest.
3When this stops being available
Once the workflow has moved beyond an editable bidding state, the platform will not treat the offer as freely changeable anymore. The exact options shown in the bid panel reflect the real current state.