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A government contractor is a company (privately owned, publicly traded or a state-owned enterprise) – either for profit or non-profit – that produces goods or services under contract for the government. [1]
Government contracts are governed by federal common law, a body of law which is separate and distinct from the bodies of law applying to most businesses—the Uniform Commercial Code (UCC) and the general law of contracts. The UCC applies to contracts for the purchase and sale of goods, and to contracts granting a security interest in property ...
Because the FAR is the law, and government contractors are presumed to be familiar with the FAR, a mandatory clause that expresses a significant or deeply ingrained strand of public procurement policy will be incorporated into a Government contract by operation of law, even if the parties intentionally omitted it. [1] [2]
The Department of Defense announces contracts valued at $7 million or more each business day at 5 pm. [2] All defense contractors maintain CAGE (Commercial and Government Entity) Codes and are profiled in the System for Award Management (SAM). [3]
The General Services Administration (GSA) is responsible for the purchase, supply, operation, and maintenance of federal property, buildings, and equipment, and for the sale of surplus items. GSA also manages the federal motor vehicle fleet and oversees remote work centers and civilian child care centers.
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In either of these cases, the legislation would go back to the General Assembly for further action. An attempt to override the Governor's veto requires approval by a two-thirds vote in both houses of the General Assembly. [2] Its session laws are published in the Acts of the General Assembly of the State of Virginia.
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