Asked by Avelina Milam on Jun 11, 2024
Verified
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.
Verified Answer
Learning Objectives
- Acknowledge just handling of suppliers within competitive tendering situations.
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