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Never heard of anything like this happening before. Sounds like bids were "issued" before a chapter vote had been taken. The pledgemaster may have jumped the gun. That's not cool.
I admit I don't know nearly enough about IFC policies and the vast majority of my NPC experience is with formal Recruitment. This was a verbal bid, not written and the OP didn't mention signing anything. However it did come from the pledgemaster who is an official representative of the chapter.
I honestly don't know if it would be binding or not. Sorry I can't help but I am interested to learn from those who do know.
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