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.
Sample 1Sample 2Sample 3
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.
Sample 1Sample 2Sample 3
Best and Final Offer (BAFO). – a means by which a state agency can request revised pricing from respondents
Sample 1Sample 2

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.

  • 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.

  • 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.

  • 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.

  • 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 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.

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

  • 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) means a Contractor’s revised, final Response that the State may request from a Respondent(s) following initial Contract negotiations “Business 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.
Sample 1Sample 2
Best and Final Offer (BAFO) means proposals from Fusion that have been accepted by the Council
Sample 1
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
Sample 1
Best and Final Offer (BAFO). – a means by which the Board can request revised pricing from respondents;
Sample 1

Related to Best and Final Offer (BAFO)

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

  • 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.

  • 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.

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