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Construction contracting businesses often have higher barriers to overcome when starting out. From licensing requirements to marketing strategies, here are some tips to help you get started ...
The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
IDIQ contracts are most often used for on-call service contracts, Architect-Engineering (A-E) services, and job order contracting. Awards are usually for a specified number of base years with renewal options for additional years. These contracts typically do not exceed a total of five years in duration.
Multi-year contracts generally lower the risk for the contractor, and thus the unit price paid by the Government. One way to look at this situation is that a multi-year contract contains a real option for the contractor to escape the uncertainty associated with a sequence of single-year contract negotiations (analogous to a put option). Real ...
In some instances, a contract may be exempt from CAS standards: Contracts awarded to small businesses are exempt from CAS, regardless of contract size. Any contract less than US$750,000 is always exempt. Any contract less than US$7.5 million is exempt, provided the company has not been awarded a contract greater than US$7.5 million in the past.
Losing the 8a set-aside would be scary, as much of our contract value has derived from this for our small business. SBA program funding makes up a large part of our revenue The SBA's job is to ...
Overall, the federal government has a goal to award 23% of contracts to small businesses. In fiscal 2023, 28.4% of contracts were awarded to small businesses, amounting to $178.6 billion.
Engineering, procurement, and construction (EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects. [1] They may follow a Front-End Engineering and Design (FEED) contract.