Best and Final Offer definition

Best and Final Offer means a revision to an Offer submitted after negotiations are completed that contains the Offeror’s most favorable terms for price, service, and products to be delivered. Sometimes referred to as a Final Proposal Revision.

Best and Final Offer or “BAFO” means a process during the negotiation stage in which a Preferred Proponent may be invited by OECM to submit a best and final offer on a process or section of the RFP to improve on their original Proposal submission. BAFO cannot be requested by a Proponent;

Best and Final Offer means a revision to an offer submitted after negotiations are completed that contain the offeror’s most favorable terms for price, service, and products to be delivered.

Examples of Best and Final Offer in a sentence

• This Contract includes all specifications, terms, and conditions in the following documents, which are attached hereto and incorporated by reference for all purposes: (1) this Contract; (2) the RFP including any addenda or attachments, attached as Appendix I; (3) Contractor’s Response, attached as Appendix II; and (4) Contractor’s rate proposal/schedule, as set forth in Contractor’s Best and Final Offer, attached as Appendix III.

• Contractor shall store and deliver USDA Foods pursuant to this Contract at the approved specified rates for Region 4, as set forth in Exhibit C, Rate Price Proposal, and Exhibit C1, Rate Schedule, of Contractor’s Best and Final Offer submitted November 29, 2023, which are attached hereto and incorporated herein by reference for all purposes as Appendix III.

• In the event of conflicts in the interpretation of wording and/or meaning of the documents that make up this Contract, such conflicts or inconsistencies shall be resolved by reference to the documents in the following order of priority: (1) this signed Contract; (2) the RFP, including any addenda or attachments; (3) Contractor’s rate proposal/schedule, as set forth in Contractor’s Best and Final Offer; and (4) Contractor's Response.

More Definitions of Best and Final Offer

Best and Final Offer or “BAFO” means the final offer from a Proposer, as further described in Section 4.6 and elsewhere in this RFP.

Best and Final Offer. (“BAFO”) means, per A.A.C. R2-7-101(8), the Revised Offer submitted after negotiations have been completed that contain Offeror’s most favorable terms for price, service, and products to be delivered.

Best and Final Offer or “BAFO” shall mean a formal document that is used to finalize negotiations with a Contractor.

Best and Final Offer or "BAFO" means a final offer submitted in writing by a bidder initially or after negotiations are completed and containing the bidder’s most favorable terms for price, service, and/or products to be delivered.

Best and Final Offer or “BAFO” means a process during the negotiation stage in which a Preferred Bidder may be invited by OECM to submit a best and final offer on a process or section of the RFT to improve on their original Tender submission. BAFO cannot be requested by a Bidder;

Best and Final Offer means a request for best and final offers at the conclusion of any discussion and /or negotiation period after offers are received (negotiations may include any and all aspects of the RFP, the primary goal in this RFP process is to provide the space required by an agency at the best value to the State).

Best and Final Offer means the final proposal submitted after negotiations are completed that contains the vendor’s most favourable terms. Best and final offers are used as an optional final stage to the Request for Proposal process to ensure the County receives the absolute best solution. Where there is a tie score or where the top two or three proposals are all lacking in certain critical areas this process may be used as an optional final stage to the RFP process to ensure the County receives the absolute best solution. The Selection Committee short lists the proposals capable of delivering the required results. Finalists are provided detailed questions formulated by the committee related to their proposals or informed of areas that are deficient and are given the opportunity to improve their original proposal. Amended sections are then re-evaluated and re-scored according to the evaluation process defined in the RFP. The best and final offer permits the County to obtain revised proposals with little extra effort and significantly reduces the risk of awarding a contract based on a mediocre proposal. (See Section 14.0) Where there is only one of the bidders involved in a tie situation that is considered “local”, the local vendor shall be awarded the contract. (“Local” in this instance means the vendor has their primary business headquarters located within the County of Simcoe (includes the Cities of Barrie and Orillia). All vendors who meet the definition of local are considered equal under this definition)