FAR Out
This is what "FAR" stands for.
Before accepting documents from the opposing party consider checking for one of these. It's already written and requires little review, unless it get redlined. Available in Word format, track those changes.
What is a Template?
the main entity responsible for managing and executing an entire project, coordinating all subcontractors, and ensuring compliance with contractual, safety, and quality requirements.
Not Optimus.
Who is the Prime Contractor?
A type of government contract where the price is set upfront and remains unchanged, regardless of the Contractor's actual costs. Risky business.
What is a Firm-Fixed-Price Contract?
The process by which one looks in to the background of a company before working with them.
What is Vetting?
This section of the FAR serves as a dictionary of sorts, defining all of the words and Terms used in all sections.
What is FAR Part 2- Definitions and Words?
These should go out with every proposal with a basis of assumptions to reduce risk and protect our profit margins. They are the rules of the agreement. The pages of this dynamic duo are the true heroes in contracts.
What are Terms and Conditions?
Developed in the 1930's to categorized U.S. Business by their primary economic activity, this system's code uses 4 digit numbers that break down industries into groups. Last updated in 1987 it remains in use for historical datasets. The modern standard is called "NAICS". You can bet someone who uses this term has lots of experience.
What is a SIC code?
Standard Industrial Classification.
This fixed price contract directly engages the time and effort of a contractor whose primary purpose is to perform an identifiable task.
What is a service contract?
Not to be confused with Time and Materials (T&M) in which charges for actual hours and material. Difference being fixed price vs actuals being billed.
A formal contract between two or more parties to collaborate on a specific project or tender, outlining roles, responsibilities, and resource sharing without forming a new legal entity.
What is a Teaming Agreement (TA)?
What are Acquisition Regulation Supplements?
DFARS, SOFARS, DTARS etc.
If you have a subcontractor under a Master Subcontract Agreement and things change, you should get one of these completed to document it.
The end of compound words "low", "knight" and "rough".
What is a Rider?
This organization defines business size standards based on industry-specific criteria, primarily measured by the number of employees or average annual receipts. It's no small endeavor.
What is the Small Business Administration (SBA)?
A Federal contract type that serves as a written instrument of understanding between a government agency and a contractor. It is not a contract itself but a framework that sets terms and conditions for future orders. Used when specific items, quantities and prices are not known upfront, but a substantial volume of purchases is anticipated.
It can be "constricting".
What is a BOA or Basic Ordering Agreement
A formal arrangement between two parties designed to foster the development of the former named through guidance and support from the latter named. Sounds fancy.
A Mentor-Protégé agreement?
This tool is used in government contracting to determine the applicability of various provisions and clauses in the FAR to specific types of contracts. They indicate if a clause is required, required when applicable or optional.
What is the FAR Matrix?
You may have a contract in place, but it is not recognized in our system until this process takes place. Tell me any story you want about missing documents but please remember to include your checklist and cost estimate or you will face delays.
What is booking?
This is a 12-character alphanumeric code that uniquely identifies organizations doing business with the U.S. federal government. Issued by GSA through SAM.gov, it serves as the primary identifier for federal awards. It replaced the DUNS number on April 4, 2022
What is a UEI or Unique Entity Identifier?
This non-FAR-based agreement allows federal agencies to rapidly acquire innovative technologies and prototypes from traditional and non-traditional contractors. Used primarily in research, prototype and production efforts.
What is an Other Transaction Authority (OTA)?
An association of two or more businesses, typically small, to pursue a specific contract opportunity in federal contraction. When your powers combine, this is what you get.
What is a Joint Venture (JV)?
Led by the Office of Federal Procurement Policy (OFPP) and the Federal Acquisition Regulatory Council (FAR Council), this initiative seeks to return the FAR to its statutory roots, rewrite it in plain language, and remove most non-statutory rules.
The goal is clear: faster acquisitions, greater competition, and better results.
What is the "Revolutionary FAR Overhaul (RFO)?
A list of delegates with the authority to commit the company to certain levels of financial responsibility have this.
With great power comes great responsibility.
Signature Authority
This government website officially replaced "FedBizOpps" or FBO in November of 2019. If you want to work with the government, you must keep your registration current here.
What is SAM.gov?
Also known as Federal Supply Schedules (FSS) or Multiple Award Schedule (MAS), these are long-term contracts awarded by the organization sharing the same name. It allows Federal agencies to purchase commercial products and services at pre-negotiated prices.
What are GSA Schedule Contracts?
Despite changes in SBA federal contracting of specialty programs, the government is legally mandated to award a certain percentage of contracts to these types of companies based on how they are classified and/or who owns them. These types of companies include 8(a), Veteran-owned and Hub-zone.
What are Small-business Set Asides?