Asked by Avelina Milam on Jun 11, 2024

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An exception to firm bidding allows the buyer and bidders the flexibility to clarify and define specifications and prices after the initial bids are received,and then bidders submit best-and-final-offers (BAFOs).

Firm Bidding

A procurement and contracting method where bidders submit fixed price proposals that cannot be altered after submission.

Best-And-Final-Offers

Best-and-final offers are the last and most competitive bids or proposals requested from suppliers or contractors during a negotiation, after which a selection is made.

Clarify

To make a statement or situation less confused and more understandable.

  • Acknowledge just handling of suppliers within competitive tendering situations.
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Verified Answer

MM
Marlen MckellarJun 16, 2024
Final Answer :
True
Explanation :
An exception to firm bidding known as BAFO allows the buyer and bidders to modify specifications and prices by submitting best-and-final-offers (BAFOs) after the initial bids are received.