When can negotiation occur during the procurement process?

Negotiation can occur after receiving the best and final offer because this phase allows both parties to clarify terms and make adjustments before finalizing the contract. At this point, suppliers provide their most competitive offers, and buyers have the opportunity to engage in discussions to refine pricing, terms, and conditions. The aim is to maximize value for both sides, ensuring that the contract reflects the best possible outcome based on the information and offers exchanged up to this stage.

This phase is crucial in the procurement process, as it often involves trade-offs, where buyers might negotiate for more favorable terms without necessarily increasing the cost. The process can solidify relationships and lead to win-win outcomes, making it an essential component of effective procurement strategy.