Best and Final Offer

Best and final offer [BAFO] refers to a multi-stage procurement process, in which written offers from bidders are subject to clarification and/or negotiation, and then the bidder[s] are invited to submit their final offer, which will not be subject to subsequent negotiation. Such processes may be appropriate when the scope of work is not well defined, the bidders’ offers are substantially different and/or the procurement process represents an opportunity for buyer and bidders to develop their understanding of potential solutions. See also RFx.