Contracting Officer (CO) – The government official authorized to enter into, administer, and terminate contracts. Voluntary consensus standards means common and repeated use of rules, conditions, guidelines or characteristics for products, or related processes and production methods and related management systems. Voluntary Consensus Standards are developed or adopted by domestic and international voluntary consensus standard making bodies (e.g., International Organization for Standardization (ISO) and ASTM-International). Unallowable cost means any cost that, under the provisions of any pertinent law, regulation, or contract, cannot be included in prices, cost-reimbursements, or settlements under a Government contract to which it is allocable. Termination for default means the exercise of the Government’s right to completely or partially terminate a contract because of the contractor’s actual or anticipated failure to perform its contractual obligations. Preaward survey means an evaluation of a prospective contractor’s capability to perform a proposed contract.
Request for Proposal (RFP)
- Electronic data interchange (EDI) means a technique for electronically transferring and storing formatted information between computers utilizing established and published formats and codes, as authorized by the applicable Federal Information Processing Standards.
- Terminated portion of the contract means the portion of a contract that the contractor is not to perform following a partial termination.
- Responses to invitations for bids (sealed bidding) are offers called “bids” or “sealed bids”; responses to requests for proposals (negotiation) are offers called “proposals”; however, responses to requests for quotations (simplified acquisition) are “quotations,” not offers.
- CAS are standards established by the government for measuring, assigning, and allocating costs in contracts to ensure consistency and fairness.
Forward pricing rate agreement means a written agreement negotiated between a contractor and the Government to make certain rates available during a specified period for use in pricing contracts or modifications. These rates represent reasonable projections of specific costs that are not easily estimated for, identified with, or generated by a specific contract, contract end item, or task. These projections may include rates for such things as labor, indirect costs, material obsolescence and usage, spare parts provisioning, and material handling. Termination inventory means any property purchased, supplied, manufactured, furnished, or otherwise acquired for the performance of a contract subsequently terminated and properly allocable to the terminated portion of the contract. It does not include any facilities, material, special test equipment, or special tooling that are subject to a separate contract or to a special contract requirement governing their use or disposition.
Irrevocable letter of credit means a written commitment by a federally insured financial institution to pay all or part of a stated amount of money, until the expiration date of the letter, upon the Government’s (the beneficiary) presentation of a written demand for payment. Neither the financial institution nor the offeror/contractor can revoke or condition the letter of credit. Indirect cost means any cost not directly identified with a single final cost objective, but identified with two or more final cost objectives or with at least one intermediate cost objective. Federal agency means any executive agency or any independent establishment in the legislative or judicial branch of the Government (except the Senate, the House of Representatives, the Architect of the Capitol, and any activities under the Architect’s direction). Designated operational area means a geographic area designated by the combatant commander or subordinate joint force commander for the conduct or support of specified military operations. Delivery order means an order for supplies placed against an established contract or with Government sources.
Electronic data interchange (EDI) means a technique for electronically transferring and storing formatted information between computers utilizing established and published formats and codes, as authorized by the applicable Federal Information Processing Standards. Cost sharing means an explicit arrangement under which the contractor bears some of the burden of reasonable, allocable, and allowable contract cost. Change-of-name agreement means a legal instrument executed by the contractor and the Government that recognizes the legal change of name of the contractor without disturbing the original contractual rights and obligations of the parties.
Government Accountability Office (GAO)
At Government Contract Inc., we believe in the power of compelling proposals and the impact of assembling a stellar team. With more than 10 years of experience, we embarked on a mission to redefine success for businesses through our specialized services in proposal writing and recruitment. Unique entity identifier means a number or other identifier used to identify a specific commercial, nonprofit, or Government entity. Simplified acquisition procedures means the methods prescribed in part 13 for making purchases of supplies or services. Responsible audit agency means the agency that is responsible for performing all required contract audit services at a business unit. Offer means a response to a solicitation that, if accepted, would bind the offeror to perform the resultant contract.
Socioeconomic Programs
Overtime premium means the difference between the contractor’s regular rate of pay to an employee for the shift involved and the higher rate paid for overtime. It does not include shift premium, i.e., the difference between the contractor’s regular government contracting terminologies rate of pay to an employee and the higher rate paid for extra-pay-shift work. Indirect cost rate means the percentage or dollar factor that expresses the ratio of indirect expense incurred in a given period to direct labor cost, manufacturing cost, or another appropriate base for the same period (see also “final indirect cost rate”). Effective date of termination means the date on which the notice of termination requires the contractor to stop performance under the contract.
Contracting Officer (CO)
- Contractors must register under appropriate NAICS codes in SAM.gov to receive federal contracts.
- For construction contracts that have been completely terminated for convenience, it means the entire contract, notwithstanding the completion of, and payment for, individual items of work before termination.
- Voluntary consensus standards means common and repeated use of rules, conditions, guidelines or characteristics for products, or related processes and production methods and related management systems.
- Bid sample means a product sample required to be submitted by an offeror to show characteristics of the offered products that cannot adequately be described by specifications, purchase descriptions, or the solicitation (e.g., balance, facility of use, or pattern).
- Partial termination means the termination of a part, but not all, of the work that has not been completed and accepted under a contract.
Single, Governmentwide point of entry, means the one point of entry to be designated by the Administrator of OFPP that will allow the private sector to electronically access procurement opportunities Governmentwide. Residual value means the proceeds, less removal and disposal costs, if any, realized upon disposition of a tangible capital asset. It usually is measured by the net proceeds from the sale or other disposition of the asset, or its fair value if the asset is traded in on another asset. Qualification requirement means a Government requirement for testing or other quality assurance demonstration that must be completed before award of a contract. Performance-based acquisition (PBA) means an acquisition structured around the results to be achieved as opposed to the manner by which the work is to be performed.
Signature or “signed” means the discrete, verifiable symbol of an individual that, when affixed to a writing with the knowledge and consent of the individual, indicates a present intention to authenticate the writing. Servicing agency means the agency that will conduct an assisted acquisition on behalf of the requesting agency. Qualified products list (QPL) means a list of products that have been examined, tested, and have satisfied all applicable qualification requirements.
Special test equipment does not include material, special tooling, real property, and equipment items used for general testing purposes or property that with relatively minor expense can be made suitable for general purpose use. Purchase order, when issued by the Government, means an offer by the Government to buy supplies or services, including construction and research and development, upon specified terms and conditions, using simplified acquisition procedures. Final indirect cost rate means the indirect cost rate established and agreed upon by the Government and the contractor as not subject to change.
Distribution and Pricing Agreements (DAPA)
CAS are standards established by the government for measuring, assigning, and allocating costs in contracts to ensure consistency and fairness. A capability statement is a document that outlines a company’s qualifications, past performance, and capabilities to compete for government contracts, which aids agencies in supplier evaluation. Small Business Innovation Research (SBIR) – A program encouraging small businesses to engage in federal R&D with commercialization potential. Service-Disabled Veteran-Owned Business (SDVOB/SDVOSB) – A business that is at least 51% owned and controlled by one or more SDVs. Task order means an order for services placed against an established contract or with Government sources.
However, the words “no person may…” mean that no person is required, authorized, or permitted to do the act described. Full and open competition, when used with respect to a contract action, means that all responsible sources are permitted to compete. First article means a preproduction model, initial production sample, test sample, first lot, pilot lot, or pilot models.