What does ARTF, RTF, PnP, BNF etc Mean?

ARTF or ARF stands for Almost Ready To Fly, which is often not the case as you will find that there is still some work to be done. 

This is usually joining the two wing halves together and fitting the tail feathers. Then, add the radio gear and even an engine in some cases, set it all up so that it will fly properly and off you go. I call this “flat pack” modelling. This can, depending on the state of ARTFness, take anything from a couple of hours to a few evenings.

RTF stands for Ready to Fly and should mean you can take it out of the box and have it up in the air almost immediately, or at least as soon as you charge your batteries. However, RTF rc models often require a bit of assembly - with planes this usually includes attaching the wings and aileron servos etc if it has ailerons. You may also need to attach the elevators and propeller. The Lotus T580 quadcopter is often billed as RTF, but you do need to attach the props and undercarriage, and remove the dome top to put your own receiver inside, and you need your own radio. Some models, like the Hobbyzone Champ and Parkzone P51 Mustang really are RTF - fully assembled in the box and come with their own radio and receiver already in place and even have their own field battery charger so you can literally take it from the shop to the park or field and be flying all afternoon.

PnP stands for Plug and Play, which means you have to supply your own battery - and often your own radio and reciever also.

BNF stands for Bind and Fly, which usually means you get everything you need apart from radio and receiver and it's otherwise ready to fly - you just need to 'bind' a receiver to your new plane or helicopter etc. Many people prefer this option once they're into rc flying properly as they find that they have quite a large collection of radios from all the beginner's RTF models they've bought and usually upgrade to a professional radio like a Futaba, Spektrum or JR etc that allows them to fly lots of planes and helicopters with the same radio.