The formal issue status marking a drawing as released to the contractor and site team as the authoritative version to build from - as opposed to earlier statuses like For Review or For Coordination, which are for internal checking only and were never meant to leave the design team's hands.
IFC drawings move through the same CDE approval gate as AFC Drawings, and on many projects the two labels describe the same milestone from two angles - IFC is what the site team sees stamped on the sheet, AFC is what the design team's issue tracking log calls the approval event. When a later revision supersedes an IFC set, the superseded drawings must be marked void immediately, since a subcontractor working from a stale IFC sheet is one of the most common, and costly, coordination failures on site.