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Government procurement and government contracting by public authorities in the United States accounts for about US$7 trillion annually; [17] the central purchasing agency is the General Services Administration (GSA). Federal procurement is governed by the Federal Acquisition Regulation.
The basis of European procurement regulation lies in the provisions of the European Union treaties which prohibit barriers to intra-Union trade, provide the freedom to provide services and the right to establishment (three of the "Four Freedoms"), prohibit discrimination on the basis of national origin and regulate public undertakings and public monopolies. [3]
While most often used in defense contracting, the BOE can be used in any department of the federal government. Within the United States Department of Defense (DoD), the BOEs presented and accepted are all regulated by the Defense Contract Audit Agency (DCAA) and the Defense Contract Management Agency (DCMA). These agencies monitor all BOEs that ...
Risk can be transferred away from government and towards providers; The purest form of PbR is payment by outcomes, which seeks to maximise payments linked to outcomes. This is where the commissioner (central or local government) is fully able to contract in terms of the outcomes it wants and to transfer the financial risk of non-delivery to ...
The United States' federal procurement rules (the Federal Acquisition Regulation, FAR) require government Contracting Officers negotiating contract prices to verify that suppliers' cost submissions are in accordance with the government's contract cost principles and procedures and, in certain cases, the requirements and procedures of the ...
EPCM is a services-only contract, under which the contractor performs engineering, procurement and construction management services. In an EPCM arrangement, the client selects a contractor who provides management services for the whole project on behalf of the client.
All three of these clauses give the government the right, at any time and without notice to the sureties, to make changes in the work within the general scope of the contract. The clause for fixed-price contracts specifies that changes may be made to the specifications (including drawings and designs), the method or manner of performance ...
An equitable adjustment, in government contracting, is a contract adjustment pursuant to a changes clause, to compensate the contractor expense incurred due to actions of the Government or to compensate the Government for contract reductions. An equitable adjustment includes an allowance for profit; clauses that provide for adjustments ...