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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 ...
IDIQ contracts are frequently awarded by various U.S. government agencies, including the General Services Administration (GSA) [6] and Department of Defense. [7] They can be in the form of multi-agency contracts under the Government-Wide Acquisition Contracts (GWAC) system, or they may be government agency-specific contracts. [ 8 ]
A GWAC is an acquisition tool that facilitates and streamlines the purchasing of IT solutions by United States federal government departments and agencies, while ensuring that the many government-mandated rules are followed. [1] These rules are complex, deriving from laws and regulations that guide the purchasing processes of each agency.
The Federal Acquisition Regulation (FAR) is the principal set of rules regarding Government procurement in the United States, [1] and is codified at Chapter 1 of Title 48 of the Code of Federal Regulations, 48 CFR 1. It covers many of the contracts issued by the US military and NASA, as well as US civilian federal agencies.
Government procurement in Bulgaria is a critical area in corruption risk. Public procurement contracts have been awarded to a handful of companies amid widespread irregularities, procedure violations and tailor-made selection or award criteria. [101]
In the 1980s, when the development of immunosuppressant drugs made organ transplants more workable, Congress passed a law creating about 50 regional monopolies where organ procurement ...
With $48.666 billion in business with the U.S. federal government, Lockheed Martin, based in Bethesda, Maryland, is the largest U.S. federal government contractor. The Top 100 Contractors Report (TCR 100) is a list developed annually by the General Services Administration as part of its tracking of U.S. federal government procurement.
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