Government Contracts Glossary
acquisitionThe acquiring of supplies or services by the federal government with appropriated funds through purchase or lease.
affiliatesBusiness concerns, organizations, or individuals that control each other or that are controlled by a third party. Control may include shared management or ownership; common use of facilities, equipment, and employees; or family interest.
best and final offer (BAFO)For negotiated procurements, a contractor’s final offer following the conclusion of discussions. The BAFO is now called a final proposal revision.
Business Information Centers (BICs)One-stop locations for information, education, and training designed to help entrepreneurs start, operate, and grow their businesses. The ...
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