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). – a means by which a state agency can request revised pricing from respondents

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

  • 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.

  • 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.

  • Department reserves the right to enter into negotiations with and/or invite submission of a Best and Final Offer (BAFO) from one bidder or multiple bidders in accordance with the procedures as outlined in the Concession Bid Evaluation & Selection Process.

  • 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.

  • Interviews, discussions, negotiations and a Best and Final Offer (BAFO) may be held only with selected firms from those firms who meet City Utilities requirements and fall within the competitive range as determined by City Utilities.

  • Therefore, the Bidder is advised to submit its best price quote in response to this solicitation since NJDOT may, after evaluation, make an award based on the content of the initial submission, without further negotiation and/or Best and Final Offer (BAFO), with any Bidder.

  • At its sole discretion, WITC may request Vendors to submit a Best and Final Offer (BAFO) for further clarification.

  • The University, at its discretion, may utilize a Best and Final Offer (BAFO) stage.

  • At the conclusion of the proposal evaluations, Offerors remaining within the competitive range may be asked to submit a Best and Final Offer (BAFO).


More Definitions of Best and Final Offer (BAFO)

Best and Final Offer (BAFO) means a Contractor’s revised, final Response that the State may request from a Respondent(s) following initial Contract negotiationsBusiness Day,” Monday through Friday, inclusive, except for non-working days declared and observed by the State. Whether capitalized or not, “day” means Business Day (defined as the Department’s normal working hours) unless otherwise described.
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 a Contractor’s revised, final Response that the State may request from a Respondent(s) following initial Contract negotiations
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 the period determined by the Directors during which Shares of any class are offered by the ICAV for purchase or subscription at the Initial Price.

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

  • Net Proceeds Offer has the meaning provided in Section 4.16.

  • Net Proceeds Offer Amount has the meaning provided in Section 4.16.

  • Tender Offer means a takeover offer, 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 per cent. and less than 100 per cent. of the outstanding voting shares of the Share Company, as determined by the Determination Agent, based upon the making of filings with governmental or self-regulatory agencies or such other information as the Determination Agent deems relevant.

  • Initial Offering Period means the period commencing with the initial effective date of the Prospectus and terminating no later than the ninetieth (90th) day following such date unless extended for up to an additional 90 days at the sole discretion of the General Partner.

  • Sell Offer means an offer to sell Capacity Resources in a Base Residual Auction, Incremental Auction, or Reliability Backstop Auction.

  • Net Proceeds Offer Trigger Date has the meaning provided in Section 4.16.

  • Net Proceeds Offer Payment Date has the meaning provided in Section 4.16.

  • Tender Notice means the Tender Notice set out in Part 1 of this TenderDocument;

  • Final Offering Circular means the final offering circular relating to the public offering of the Shares as filed with the Commission pursuant to Regulation A of the Rules and Regulations;

  • Consent Solicitation Statement means the consent solicitation statement included as part of the Registration Statement with respect to the solicitation by the Company of the Company Stockholder Approval.

  • Consent Solicitation has the meaning set forth in Section 6.15(b).

  • Offer Deadline means the exact date and time when no Offer submitted thereafter may be considered or accepted by District.

  • Tender Offer Date means, in respect of a Tender Offer, the date on which voting Shares in the amount of the applicable percentage threshold are actually purchased or otherwise obtained (as determined by the Calculation Agent).

  • Change of Control Offer has the meaning provided in Section 4.15.

  • Initial Notice shall have the meaning set forth in Section 7.1.

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

  • Tender Offer Documents means the documents provided to the holders of the Auction Preferred Shares by or on behalf of the Fund in connection with the Tender Offer.

  • Market/Offer Price means the highest of (i) the price per share of Common Stock at which a tender or exchange offer therefor has been made, (ii) the price per share of Common Stock to be paid by any third party pursuant to an agreement with Issuer, (iii) the highest closing price for shares of Common Stock within the six-month period immediately preceding the date the Holder gives notice of the required repurchase of this Option or the Owner gives notice of the required repurchase of Option Shares, as the case may be, or (iv) in the event of a sale of all or any substantial part of Issuer's assets or deposits, the sum of the net price paid in such sale for such assets or deposits and the current market value of the remaining net assets of Issuer as determined by a nationally recognized investment banking firm selected by the Holder or the Owner, as the case may be, and reasonably acceptable to Issuer, divided by the number of shares of Common Stock of Issuer outstanding at the time of such sale. In determining the market/offer price, the value of consideration other than cash shall be determined by a nationally recognized investment banking firm selected by the Holder or Owner, as the case may be, and reasonably acceptable to Issuer.

  • Final Offering Memorandum shall be deemed to mean and include all information filed under the Securities Exchange Act of 1934 (as amended, the “Exchange Act,” which term, as used herein, includes the rules and regulations of the Commission promulgated thereunder) prior to the Time of Sale and incorporated by reference in the Pricing Disclosure Package (including the Preliminary Offering Memorandum) or the Final Offering Memorandum (as the case may be), and all references herein to the terms “amend,” “amendment” or “supplement” with respect to the Final Offering Memorandum shall be deemed to mean and include all information filed under the Exchange Act after the Time of Sale and incorporated by reference in the Final Offering Memorandum. The Company hereby confirms its agreements with the Initial Purchasers as follows:

  • Qualifying Public Offering means a firm commitment underwritten public offering of Stock for cash where the shares of Stock registered under the Securities Act are listed on a national securities exchange.