Bona Fide Purchaser. One who buys property in good faith, for fair value, and without notice of any adverse claim or right of third parties.

BONA FIDE PURCHASER. A purchaser who pays fair value for property in good faith, and without notice of adverse claims. Back to the Top

Basic formula price. Calculated monthly by USDA, the BFP is the base price for all milk regulated by federal milk marketing orders. Currently, the BFP is based on the preceding month's average price of Grade B milk paid by processors in Minnesota and Wisconsin, adjusted by current-month changes in the value of certain manufactured dairy products.

(dairy science) Basic formula price, determined by the U.S. Department of Agriculture, that serves as a basis for pricing milk in the United States. The BFP is calculated monthly based on previous BFP and the price of cheese.

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A BDSM abbreviation for bound for pleasure.

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