BAFO
BAFO definition by Slang.net
This page explains what the acronym "BAFO" means. The definition, example, and related terms listed above have been written and compiled by the Slang.net team.
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Buyers and sellers use BAFO to stand for "best and final offer." This acronym's most likely to be used during an online sales negotiation, when a seller is soliciting offers from one or more potential buyers, or a buyer is making their BAFO to a seller.
Those issuing and responding to RFPs may also use the BAFO acronym. For example, the organization that issued the RFP may follow up with the best respondents, clarifying some requirements and asking those respondents to make their BAFOs.