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The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent.  \nRights and Permissions  \nThe material in this work is subject to copyright. Because the World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to:  \nOffice of the Publisher  \nThe World Bank  \n1818 H Street NW Washington, DC 20433  \nUSA  \nfax: 202-522-2422  \n[e-mail:](e-mail: pubrights@worldbank.org)[ ](e-mail: pubrights@worldbank.org)[pubrights@worldbank.org](e-mail: pubrights@worldbank.org).  \nCommon Abbreviations and Defined Terms  \nThis section explains the common terms and abbreviations used in this Guidance Document. Defined terms are written using capital letters.  \n\n| Abbreviation / term | Full terminology / definition |\n| --- | --- |\n| BAFO | Best and final offer. |\n| BATNA | Best Alternative to a Negotiated Agreement. |\n| Bank | IBRD and/or IDA (whether acting on its own account or in its capacity as administrator of trust funds provided by other donors) . |\n| Bid | An offer, by a firm or joint venture, in response to a Request for Bids to provide the required Goods, Works or Non-consulting Services. |\n| Bidder | A firm or joint venture that submits a Bid for Goods, Works, or Non-consulting Services in response to a Request for Bids. |\n| Borrower | A Borrower or recipient of Investment Project Financing (IPF) and any other entity involved in the implementation of a project financed by IPF. |\n| Contractor | A Firm that is contracted to provide Works. |\n| Goods | A category of Procurement that includes: commodities, raw material, machinery, equipment, vehicles, Plant, and related services such as transportation, insurance, installation, commissioning, training, and initial maintenance. |\n| IPF | Investment Project Financing. |\n| Investment Project Financing (IPF) | The Bank’s financing of investment projects that aims to promote poverty reduction and sustainable development. IPF supports projects with defined development objectives, activities, and results, and disburses the proceeds of Bank financing against specific eligible expenditures. |\n| Most Advantageous Bid/Proposal | The Bid/Proposal that meets the qualification criteria and has been determined to be substantially responsive to the Request for Bids/ Request for Proposals document; and is also the highest ranked Bid/Proposal. |\n| Negotiation | Negotiation is a process through which each party tries to achieve their goals in the context of the relationship with the other party. |\n\n\n| Abbreviation / term | Full terminology / definition |\n| --- | --- |\n| Non-consulting Services | Services which are not Consulting Services. Nonconsulting Services are normally Bid and contracted on the basis of performance of measurable outputs, and for which performance standards can be clearly identified and consistently applied. Examples include: drilling, aerial photography, satellite imagery, mapping, and similar operations. |\n| NPF | 2016 Procurement Framework. |\n| Probity Assurance Provider | An independent third party that provides specialist probity services for concurrent monitoring of the Procurement Process. |\n| Procurement Documents | A generic term used in the Wor","cbCaiqrQV57R7hQr","https://ap.wps.com/l/cbCaiqrQV57R7hQr","pdf",1406330,75,"English","# Common Abbreviations and Defined Terms\n## BAFO and related negotiation concepts\n## Bid, bidder, and procurement document terms\n## Procurement process and value for money","[{\"question\":\"What do BAFO and BATNA mean in this guidance?\",\"answer\":\"BAFO stands for Best and Final Offer. BATNA stands for Best Alternative to a Negotiated Agreement.\"},{\"question\":\"How does the guidance define a Bid and a Bidder?\",\"answer\":\"A Bid is an offer submitted in response to a Request for Bids to provide the required Goods, Works, or Non-consulting Services. A Bidder is the firm or joint venture that submits such a Bid.\"},{\"question\":\"What is the meaning of Value for Money (VfM) in procurement?\",\"answer\":\"Value for Money (VfM) is the principle that emphasizes effective use of resources to achieve intended outcomes.\"}]","Procurement Guidance - Negotiations and Best and Final Offer (BAFO) | PDF",1789567708,26]