BAFO Sample Clauses
The BAFO (Best and Final Offer) clause is a provision used in procurement or negotiation processes to request that shortlisted bidders submit their most competitive and final proposals. Typically, after initial rounds of evaluation, the contracting party invites selected vendors to revise their offers, often clarifying terms, improving pricing, or addressing specific requirements. This clause ensures that the buyer receives the most favorable terms possible before making a final selection, promoting transparency and maximizing value in competitive bidding situations.
BAFO. Best and Final Offer, submitted by a Vendor to alter its initial bid, made in response to a request by the issuing agency.
BAFO. <<Insert any other attachments or documents that are intended to become part of the Contract. >>