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A government contract proposal, often called a government proposal in business, is a response to written requirements issued by a government entity that wants to buy something. All areas of government (national, state/provincial, and local) use written requirements to buy products or services to make purchasing fair and reduce costs.
Private parties entering into a contract with one another (i.e., commercial contracts) have more freedom to establish a broad range of contract terms by mutual consent compared to a private party entering into a contract with the Federal Government. Each private party represents its own interests and can obligate itself in any lawful manner.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Fixed Price Economic Price Adjustment Contract (FPEPA) is a "fixed-price contract, but with a special provision allowing for predefined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decrease) for special commodities".
Government procurement regulations normally cover all public works, services and supply contracts entered into by a public authority.However, there may be exceptions. These most notably cover military acquisitions, which account for large parts of government expenditure, and low value procurement
The new proposal also includes a guaranteed 20% wage increase over four years compared to 16% in the rejected offer, and raises the maximum yearly cost-of-living adjustment from 2.5% to 3.5%.
A GWAC is not necessarily restricted to the agency that runs it (see the article on SEWP as an example). All IDIQs, including GWACs, are regulated by FAR, a set of rules and regulations that must be followed by federal agencies and resellers of goods and services (known as Contract Holders) to the government in the procurement process. [3]
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