The open format for exchanging model issues - not the model itself. A BCF file carries a comment, a screenshot, a camera position, and references to the exact elements involved, so whoever receives it can open their own model, jump straight to the problem, and fix it.
BCF is maintained by buildingSMART (like IFC) and is supported by Navisworks, Solibri, Revit add-ins, and most issue-tracking platforms. It is how clash detection results actually travel between teams.