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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Glossary > B

Best and Final Offer

Also referred to as 'BAFO.'

In an RFx process, it's the final call for improvements to a proposed deal.

Best and Final Offer is often a revision of an offer already submitted - based on multiple negotiations. 

It includes the final and most favourable terms available from an Offeror.