Best and final offer (BAFO)
A best and final offer (BAFO) is the last revised proposal a buyer asks for after discussions.
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Definition
A best and final offer (BAFO) is the last revised proposal a buyer asks for after discussions. The FAR now calls it a final proposal revision: at the end of discussions, every offeror still in the competitive range gets the chance to submit one by a common cut-off date (FAR 15.307).
State and local buyers still widely use the term BAFO, often after shortlisted firms present.
How it differs
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vs. Request for proposals (RFP)
BAFOs happen only in negotiated (RFP) procurements; sealed bids cannot be revised after opening. What is RFP?
Related terms
Questions
What does BAFO mean in procurement?
A best and final offer (BAFO) is the last revised proposal a buyer asks for after discussions. The FAR now calls it a final proposal revision: at the end of discussions, every offeror still in the competitive range gets the chance to submit one by a common cut-off date (FAR 15.307).
What is the difference between BAFO and RFP?
BAFOs happen only in negotiated (RFP) procurements; sealed bids cannot be revised after opening.