FAS - Federal Acquisition ServiceProvides comprehensive solutions for products and services across the government. WTO - World Trade OrganizationThe World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. This post provides just a small sample of key government contracting terminology. This post provides just a small sample of key government contracting terminology. FPDS - Federal Procurement Data SystemIs a single source for US government-wide procurement data. NDAA - National Defense Authorization ActIs the name for each of a series of United States federal laws specifying the annual budget and expenditures of the U.S. Department of Defense. Find support to help you search for and bid on contract opportunities. Between schedules, the General Services Administration (GSA), and the Small Business Administration (SBA), where do you even begin? Modification Agreements for Contracts are also sometimes referred to as Addenda. Introduction to Federal Government Contracting. DUNS - Data Universal Numbering SystemThe 9-digit number assigned by Dun and Bradstreet, Inc. (D&B), to identify unique business entities, which is used as the identification number for Federal contractors. Knowledge of the government lingo is necessary as one acronym can have multiple meanings. The MFC prevents a company from treating different customers differently in negotiations. GSA - General Services Administration An independent agency of the United States government, was established in 1949 to help manage and support the basic functioning of federal agencies. A basic ordering agreement is not a contract. Cost-plus contract lines. Government Contracting Terminologies Bid - a tender, proposal or quotation submitted in response to a solicitation from a contracting authority Bidders' Conference - a meeting to discuss with potential bidders, technical, operational and performance specifications, and/or the full extend of financial, security and other contractual obligations related to a bid solicitation The four-digit fields, (defined within Cataloging Handbook H2-1) are used to group standardization documents and their products into logical families. The contracting officer is required to establish a common cut-off date only for receipt of final proposal revisions. It is the primary vendor database for the U.S. federal government. Learn how to grow your business by having the federal government of the United States as a customer. government contracting --guide for small businesses. Each year, the government purchases many different products and supplies, many of which are required to come from small businesses. SOW - Statement of WorkThat portion of the contract that clearly and concisely defines requirements of the specific work to be accomplished. VOSB - Veteran-Owned Small-BusinessIs a company diversity registration designated under the Veteran Benefits, Health Care, and Information Technology Act of 2006 (Public Law 109-461). Schedules (also known as Federal Supply Schedules and Multiple Award Schedules) are contracts between the government and private companies. Accord and satisfaction — An agreement that puts an end to obligations and settles a legal dispute between two or more entities. If you’re interested in pursuing government contracting, use this article as an introduction to some of the most important government contracting terminology you’ll need to know. Know about federal contract markets and opportunities 2. “Weakness” means a flaw in the proposal that increases the risk of unsuccessful contract performance. These are the types of contracts that small businesses will, for the most part, be dealing with. ensuring payments are accurate and timely, maintaining the integrit… Vendors must update or renew their registration annually to maintain an active status. ODC - Other Direct CostsAre those budget line items that support performing the scope of work and are reasonable, easily identifiable and allocable to the project. ISR - Individual Subcontracting ReportIs the former SF-294. . FEDERAL CONTRACTING ACRONYM GUIDE A AAR After Action Report ACAT Acquisition Category ACO Administrative Contracting Officer ACQ Acquisition ACS Assistant Chief of Staff ACWP Actual Cost of Work Performed ADA Americans with Disabilities Act ADPE Automated Data Processing Equipment AI Action Item ALIN Agreement Line Item Number CAGE - The Commercial and Government EntityCAGE code is a five-character ID number used extensively within the Federal government and administered by Defense Logistics Information Service (DLIS). SIP - Schedule Input ProgramIs a proprietary software program provided by GSA to assist contract holders with uploading their electronic catalog onto GSA. Also called a Blanket Purchase Agreement (BPA). Procurement terminology for suppliers and procurement professionals. Another federal agency, the SBA was created in 1953 to provide small business owners with the help they need to ensure their companies are successful. They offer counseling and assistance with capital, and they also run programs that support small businesses run by underserved populations (such as women, veterans, and minorities). The contractor is obligated to perform the contract at the awarded price and accepts 100 percent of the profit or loss of performing the contract within that price. The world of federal government contracting can be intimidating if you’re a newcomer. Understand SA’s certification programs – 8(a) … PTA Centers are designed to be a local resource available to provide assistance to business firms in marketing products and services to government. Government contract withholding. There are various types of fixed-price contracts: 1. the Government by which the Government, for itself or as agent of another, assumes ownership of existing identified supplies tendered or approves specific services rendered as partial or complete performance of the contract. With the support of the SBA, the federal government aims to award at least 5% of its annual contracts to these businesses. CAV - Contractor Assistance VisitCursory compliance assessment intended to identify potential administrative and compliance issues. The acronyms and terminology used in federal government contracting can be a labyrinth–one sadly devoid of David Bowie. Under the fixed-price arrangement, the final price is basically determined before the work is performed. The … T&C - Terms and ConditionsApplied to the rules under which all bids/proposals must be submitted and the stipulations included in most purchase contracts; often published by the purchasing authorities for the information of all potential vendors. We offer a comprehensive client-advising program called the Three “R†s of Government Contracting to prepare you for doing business with government agencies. To qualify, the owner must have at least 51% control of the company and be a U.S. citizen, among other requirements. It has been replaced by SAM. Government contract pricing. Of all Federal Government contracting systems, DoD Contracting is one of the hardest to comprehend and dominate because it is heavily bureaucratic; your counterparts live in a culture that doesn’t normally focus on fast or innovative; the jargon is complex; and the time lines may be longer than your company can sustain while you wait for a steady flow of contracts to pay your bills. Basis of Award. HUBZone - Historically Underutilized Business ZoneA historically underutilized business zone that is an area located within one or more qualified census tracts, qualified nonmetropolitan counties, lands within the external boundaries of an Indian reservation, qualified base closure areas, or re-designated areas. In the case of task-order contracts, the statement of work for the basic contract only defines the scope of the overall contract in general terms. MAC - Multi-Agency Contract A task-order or delivery-order contract established by one agency for use by Government agencies to obtain supplies and services. As a business owner, you can register on the site and learn about current availability, including contract awards and subcontracting opportunities. This fee is a fixed percentage of reported sales under GSA &VA Schedule contracts that is paid quarterly by contractors. This website uses cookies to improve your experience. PWS - Performance Work StatementA statement of work for performance-based acquisitions that describes the required results in clear, specific and objective terms with measurable outcomes. GSA sources everything from new technology providers to travel companies to real estate on behalf of other government groups. Statements of work are individually tailored to consider the period of performance, deliverable items, if any, and the desired degree of performance flexibility. Welcome to the wonderful world of government contracting. Administration and Monitoring Administration and Monitoring refers to all activities associated with administering a Contract (e.g. D&B - Dun & BradstreetIs a corporation that offers information on commercial credit as well as reports on businesses. The first thing you’ll want to learn before tackling the complicated world of regulations in government contracting is the basic terminology. TAA - Trade Agreements ActIs an Act of Congress that governs trade agreements negotiated between the United States and other countries under the Trade Act of 1974. If there’s a term you' need help on but it’s not on here, please email us at support@command-systems.com and we’ll help you out and get it up on our glossary. SIN - Special Item NumberLists GSA contractor service and/or product requirements) SIN. If you’re interested in pursuing government contracting, use this article as an introduction to some of the most important, Economically Disadvantaged Woman-Owned Small Business (EDWOSB), Historically Underutilized Business Zone (HUBZone), Indian Small Business Economic Enterprises (ISBEE), Service-Disabled Veteran-Owned Small Business (SDVOSB), The FAR is a set of regulations that dictate, A disadvantaged business is a small business owned by someone who is considered. Watermarke Services provides outsourced services in five key areas to help your business focus on core processes that propel growth. PO - Purchase OrderAn offer by the Government to buy supplies or services, including construction and research and development, upon specified terms and conditions, using simplified acquisition procedures. WBEs are typically certified by a third-party, city, state or federal agency. Large Business Subcontractors are required to submit the ISR to the Large Business whom awarded them the contract within eSRS. Properly prepared, such an arrangement sets a limit on the period of time it is valid and the maximum amount of money that may be spent at one time or within a specified period and specifically identifies these persons authorized to accept goods. EPLS - Excluded Parties List System (now part of SAM)Was a database maintained by the General Services Administration (GSA) an independent U.S. government agency, established in 1949, to help manage Federal agencies. GSA assists with procurement work for other government agencies. SAT - Simplified Acquisition ThresholdThe simplified acquisition threshold is set by the Federal Acquisition Regulation at 48 CFR Subpart 2.1 (Definitions) and in accordance with 41 U.S.C. FBO - Federal Business Opportunities (also known as FedBizOpps)Is the single government point-of-entry (GPE) for Federal government procurement opportunities over $25,000. PCO - Procurement Contracting OfficerTo issue legal contracts between the US Government and the contracting entity.
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