Best and Final Offer (BAFO) definition

Best and Final Offer (BAFO) 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.
Best and Final Offer (BAFO) means the final offer provided by an Offeror at the conclusion of discussions in response to a Request for Proposal. Thus, regardless of the length or number of discussions, there will be only one request for a revised Proposal. The decision to award will be based on the score of the BAFOs.
Best and Final Offer (BAFO) means a Contractor’s revised, final Response that the State may request from a Respondent(s) following initial Contract negotiations

Examples of Best and Final Offer (BAFO) in a sentence

  • A binding contract shall consist of: (1) the solicitation documents, amendments thereto, and/or Best and Final Offer (BAFO) request(s) with any changes/additions, (2) the Contractor's bid response, and (3) the MHTCs acceptance of the bid by post-award contract or purchase order.

  • Best and Final Offer (BAFO): In a competitive bid, the final offer submitted which contains the bidder’s (vendor’s) most favorable terms for price.

  • Proposals, including all prices therein, shall remain valid for 90 days from proposal opening or Best and Final Offer (BAFO) submission unless otherwise indicated.

  • A binding contract shall consist of: (1) the RFP, addendums thereto, and any Best and Final Offer (BAFO) request(s) with RFP changes/additions, (2) the contractor's proposal including any contractor BAFO response(s), (3) clarification of the proposal, if any, and (4) Purchasing's acceptance of the proposal by "notice of award" or by "purchase order." All Exhibits and Attachments included in the RFP shall be incorporated into the contract by reference.

  • A binding contract shall consist of: (1) the solicitation documents, amendments thereto, and/or Best and Final Offer (BAFO) request(s) with any changes/additions, (2) the Contractor's bid response, and (3) the MHTC’s acceptance of the bid by post-award contract or purchase order.

  • The State reserves the right to negotiate with one or more Vendors, or to reject all original offers and negotiate with one or more sources of supply that may be capable of satisfying the requirement, and in either case to require Vendor to submit a Best and Final Offer (BAFO) based on discussions and negotiations with the State.

  • A binding contract shall consist of (1) the RFP, amendments thereto, and any Best and Final Offer (BAFO) request(s) with RFP changes/additions, (2) the contractor's proposal including any contractor BAFO response(s), (3) clarification of the proposal, if any, and (4) University’s acceptance of the proposal by "notice of award" or by "purchase order." All Attachments included in the RFP shall be incorporated into the contract by reference.

  • A binding contract shall consist of: (1) the solicitation documents, amendments thereto, and/or Best and Final Offer (BAFO) request(s) with any changes/additions, (2) the Contractor's quote response, and (3) the MHTC's acceptance of the quote by post-award contract or purchase order.

  • In addition, the State reserves the right to seek a Best and Final Offer (BAFO) from one or more bidders.

  • Following the opening of bid proposals, the State shall, pursuant to N.J.S.A. 52:34-12(f), negotiate one or more of the following contractual issues: the technical services offered, the terms and conditions and/or the price of a proposed contract award with any bidder, and/or solicit a Best and Final Offer (BAFO) from one or more bidders.


More Definitions of Best and Final Offer (BAFO)

Best and Final Offer (BAFO). – a means by which a state agency can request revised pricing from respondents
Best and Final Offer (BAFO) means, in a competitive procurement solicitation, the final offer submitted, which contains the Offeror’s most favorable terms and price.
Best and Final Offer (BAFO). – a means by which the Board can request revised pricing from respondents;
Best and Final Offer (BAFO) means proposals from Fusion that have been accepted by the Council

Related to Best and Final Offer (BAFO)

  • 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.

  • Final Offer means the offer on which a resource was dispatched by the Office of the Interconnection for a particular clock hour for the Operating Day.

  • Initial Offer means the initial offer of Participating Shares in a Fund as set out in the applicable Supplement;

  • Initial Offer Price means the initial price payable for a Share as specified in the relevant Supplement for each Fund.

  • Initial Offer Period means, in respect of each Sub-Fund the period before the relevant Listing Date as set out in the relevant Appendix.

  • Initial Offering means the Company’s first firm commitment underwritten public offering of its Common Stock registered under the Securities Act.

  • Tender Offer means, in respect of a Share, a takeover bid, tender offer, exchange offer, solicitation, proposal or other event by any entity or person that results in such entity or person purchasing, or otherwise obtaining or having the right to obtain, by conversion or other means, greater than 10% and less than 100% of the outstanding relevant Shares of the applicable Company, as determined by the Calculation Agent, based upon the making of filings with governmental or self-regulatory agencies or such other information as the Calculation Agent deems relevant.

  • Final Offering Circular means the final offering circular relating to the Offered Securities to be offered by the Purchasers that discloses the offering price and other final terms of the Offered Securities and is dated as of the date of this Agreement (even if finalized and issued subsequent to the date of this Agreement).

  • Consent Solicitation Statement means the consent solicitation statement issued on June 15, 2020 by Odebrecht Engenharia e Construção S.A., among others.

  • Change of Control Offer has the meaning set forth in Section 4.15(a).

  • Last best offer package means the offer exchanged by parties not less than 14 days prior