For your consideration ...
For future reference ... RF, for Royal Farms, is an abbreviation. ROFO, for Right of First Offer, is a acronym. However when writing using abbreviations and acronyms that will be repeated throughout a writing, to readers with no knowledge of their meanings, it is necessary at the beginning of a writing, usually in the first paragraph, to spell out the abbreviation and/or acronym before using them later in the writing.
Such as this, ..... Royal Farms, (RF), has created a customer marketing program they named Right of First Offer, (ROFO), used to encourage repeat business. RF has said in a statement that their ROFO program is a smashing success.
Class is dismissed.