Best and Final Offer (BAFO) Sample Clauses

Best and Final Offer (BAFO). A BAFO may be requested at the sole and exclusive discretion of the DTMB or its agent. A BAFO or other alteration to original proposals submitted after the Proposal Due Date will not be accepted unless requested in writing by the DTMB or its agent. A BAFO may be requested from one or more proposers during the review and evaluation process. If the evaluation process does not lead to a viable recommendation and there are alterations to the original RFP requirements, the requirements will be presented to all Bidders with a due date for submission. Bidders will not be provided any information about other proposals, or where a Bidder stands in relation to others, at any time during the evaluation process.
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Best and Final Offer (BAFO). At the conclusion of negotiations, the Offeror(s) may be asked to submit in writing, a best and final offer (BAFO). After the BAFO is submitted, no further negotiations shall be conducted with the Offeror(s). The Offeror’s proposal will be rescored to combine and include the information contained in the BAFO. The decision to award will be based on the final evaluation including the BAFO.
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Best and Final Offer (BAFO). If discussions are conducted, the State of Arizona shall issue a written request for Best and Final Offers (BAFO's). The request shall set forth the date, time and place for the submission of BAFO’s. BAFO’s shall be requested only once; unless, the State of Arizona makes a determination that it is advantageous to conduct further discussions.
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Best and Final Offer (BAFO). In a competitive proposal, the final offer submitted which contains the contractor’s most favorable terms for price. Bid/Proposal: The offer submitted by a vendor in a response to a written RFP. Bid Bond: An insurance agreement, accompanied by a monetary commitment, by which a third party (the surety) accepts liability and guarantees that the contractor will not withdraw the bid. Bidder: A contractor who submits a proposal in response to a written RFP. Breach: Violation of a contractual obligation by failing to perform or repudiation of one’s own promise. Business: Any corporation, partnership, individual, sole proprietorship, joint-stock company, joint venture, or any other private legal entity. Business Day: Any weekday, except State-recognized holidays. Calendar Day: Every day shown on the calendar including Saturdays, Sundays, and State/Federal holidays. Cancellation: To call off or revoke a purchase order without expectation of conducting or performing it at a later time. COI – Certificate of Insurance Change Order: Document that provides amendments to an executed purchase order or contract. Collusion: An agreement or cooperation between two or more persons or entities to accomplish a fraudulent, deceitful, or unlawful purpose.
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Best and Final Offer (BAFO). In a competitive proposal, the final offer submitted which contains the contractor’s most favorable terms for price. Bid/Proposal: The offer submitted by a vendor in a response to a written RFP. Bid Bond: An insurance agreement, accompanied by a monetary commitment, by which a third party (the surety) accepts liability and guarantees that the contractor will not withdraw the bid. Bidder: A contractor who submits a proposal in response to a written RFP. Breach: Violation of a contractual obligation by failing to perform or repudiation of one’s own promise.
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Best and Final Offer (BAFO). Xxxxx XXXX may request a Best and Final Offer (BAFO) from each bidder determined to be in the competitive range.
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Best and Final Offer (BAFO). A revision of the originally submitted Proposal by a Respondent following a formal request for revisions of Proposals made to selected Respondents;
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Related to Best and Final Offer (BAFO)

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  • Tender Opening 24.1 Except as in the cases specified in ITT 23, the Procuring Entity shall, at the Tender opening, publicly open and read out all Tenders received by the deadline at the date, time and place specified in the TDS in the presence of Tenderers' designated representatives who choose to attend, including to attend any specific electronic tender opening procedures if electronic tendering is permitted in accordance with ITT 21.1, shall be as specified in the TDS.

  • Effectiveness of Redemption If notice of redemption has been duly given and if on or before the Redemption Date specified in the notice all funds necessary for the redemption have been deposited by the Credit Union, in trust for the pro rata benefit of the Holders of the Senior Subordinated Securities called for redemption, with a bank or trust company doing business in the Borough of Manhattan, The City of New York, and having a capital and surplus of at least $500 million and selected by the Board of Directors, so as to be and continue to be available solely therefor, then, notwithstanding that any Senior Subordinated Security so called for redemption has not been surrendered for cancellation, on and after the Redemption Date interest shall cease to accrue on the aggregate principal amount of such Senior Subordinated Securities so called for redemption, the aggregate principal amount of such Senior Subordinated Securities so called for redemption shall no longer be deemed outstanding and shall cease to bear interest from and after the Redemption Date. All rights with respect to such Senior Subordinated Securities (or the portion thereof so called for redemption) shall forthwith on such Redemption Date cease and terminate, except only the right of the Holders thereof to receive the redemption price payable on such redemption from such bank or trust company, without interest. Any funds unclaimed at the end of three years from the Redemption Date shall, to the extent permitted by applicable law, be released to the Credit Union, after which time the Holders of such Senior Subordinated Securities (or portion thereof so called for redemption) shall look only to the Credit Union for payment of the redemption price of such Senior Subordinated Securities.

  • If there is a permitted secondary offering (1) If the Issuer is an emerging issuer and you have sold in a permitted secondary offering 10% or more of your escrow securities, your escrow securities will be released as follows: For delivery to complete the IPO All escrow securities sold by you in the permitted secondary offering 6 months after the listing date 1/6 of your remaining escrow securities 12 months after the listing date 1/5 of your remaining escrow securities 18 months after the listing date 1/4 of your remaining escrow securities 24 months after the listing date 1/3 of your remaining escrow securities 30 months after the listing date 1/2 of your remaining escrow securities 36 months after the listing date your remaining escrow securities *In the simplest case, where there are no changes to the remaining escrow securities upon completion of the permitted secondary offering and no additional escrow securities, the release schedule outlined above results in the remaining escrow securities being released in equal tranches of 16 2/3%.

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