Tendering & estimating glossary
Plain-language definitions of the terms engineering and bid teams meet in a live tender — defined precisely, with worked examples and the US/UK/AU variations.
BAFO (best and final offer)
BAFO (best and final offer) is a buyer's formal, late-stage request for shortlisted bidders in a competitive tender to submit one final, revised offer — sharpened price, confirmed terms and answered clarifications — after which no further changes are accepted.
Returnable schedule
A returnable schedule is a structured form a buyer issues with a tender that the bidder must complete and return as part of their submission, capturing one part of the response (price, technical compliance, capability, or supporting evidence) in the exact format the buyer will evaluate.
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