Best and Final Offer (BFO) (Definition)

In complex acquisitions of ICT goods and services it may be necessary to engage in a best and final offer process to obtain the optimum results. Such offers may be confined to price, but may also extend to the scope of the goods, equipment and related services and service contracts proposed by a supplier. Formal notice is required in the original invitation document to reserve the right of the agency to issue an invitation for a best and final offer.


Last Reviewed: 08 February 2018

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