Top Rated Solution for Vendor and Contract Lifecycle Management

G2 reviews, 4.5 stars Software Advice, 4.7 stars

“Before Gatekeeper, our contracts were everywhere and nowhere.”

Anastasiia Sergeeva, Legal Operations Manager, BlaBlaCar

“Gatekeeper is that friendly tap on the shoulder, to remind me what needs our attention.”

Donna Roccoforte, Paralegal, Hakkasan Group

“Great System. Vetted over 25 other systems and Gatekeeper rose to the top.”

Randall S. Wood, Associate Corporate Counsel, Cricut

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Gatekeeper Contract and Vendor Management Glossary

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

Best and Final Offer

Best and Final Offer, also referred to as 'BAFO', is the final offer provided within the negotiation process.

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 is also used by Parties who are dealing with multiple bids. 

Requesting a Best and Final Offer can prevent bidding wars from occurring in scenarios such as construction projects. 

After a Best and Final Offer has been made, it is natural that further negotiation will not be made.