Higher offer terminated order (7)
I believe the answer is:
overbid
'higher offer' is the definition.
'overbid' can be an answer for 'offer' (overbid is a kind of offer). I am not sure about the 'higher' bit.
'terminated order' is the wordplay.
'terminated' becomes 'over' (synonyms).
'order' becomes 'bid' (I've seen this in another clue).
'over'+'bid'='OVERBID'
Can you help me to learn more?
(Other definitions for overbid that I've seen before include "Contractor's mistake" , "Make rash offer" , "Higher auction offer" , "offered too much" , "offer too much" .)