A. Yes, the basis for change may be solely the desire to increase your chances of winning the contract award by lowering your price. If the contract you are competing for is a cost-reimbursement type contract, the procuring agency may well ask you for your rationale in lowering the original cost estimates to do the work. They would be concerned about a "buy in" at an unrealistic total estimated cost, and since you would not be contractually bound to complete the contract at that estimated cost, they would want to know if the estimated cost was realistic. You will then need to provide them with reassurance that you will in fact honor the price you offered.
(Revised: August 21, 2009)
Q. How do you request a "Best and Final Offer"?
A. Requests for best and final offers must be in writing. If the request is made orally to expedite the process, it must be confirmed in writing. The letter requesting best and final offers has four essential elements:
A discussion of best and final offers may be found in the Best Practices Procurement Manual, Section 22.214.171.124 and in the Federal Acquisition Regulation, Section 15.611. (Reviewed: August 21, 2009)