Best and final offer (BAFO)

Best and final offer (BAFO),

Definition of Best and final offer (BAFO):

  1. Term used in bids to indicate that no further negotiation on the amount or terms is possible. BAFO is issued often in response to the request a principal (customer) sends to those contractors or suppliers whose bids are within a close range of one another.

Meaning of Best and final offer (BAFO) & Best and final offer (BAFO) Definition