This briefing covers active market intelligence, regulatory guidelines, and tactical capture recommendations for federal and defense contractors pursuing opportunities in this procurement classification.
Government Contract Acquisition
1. What types of contracts are there?
Types of government contracts include fixed-price contracts, which generally provide a firm price for the work, and cost-reimbursement contracts, which provide payment for allowable incurred costs. Other types are incentive contracts, time -and-materials contracts and sealed bidding contracts. Research them to see what effect each would have on your company’s finances.
2. Will you look at my past performance?
You must be an expert in the area related to the contract you are pursuing. If you want to be a government technology contractor, for instance, you should be able to show proof that you excel in your technology through previous contracts and work. In recent years, governments have been putting more emphasis on a company’s past contract performance when selecting contractors.
3. What are the contract requirements?
Read the solicitation thoroughly and make sure you can fulfill the requirements. For example, you might be required to sustain your business financially until the contract expires, maintain Applicant Flow Logs, which record various details about your job applicants and hires, and send annual letters to recruitment sources.
4. Do you need my commercial price list?
The General Services Administration’s contracting officers determine whether a contract price is acceptable by looking at what the company offers the GSA and comparing that with the price the company offers its commercial customers. Companies must provide commercial price lists and detail their pricing and discounting practices during the application process.
5. Are my books ready to be audited?
Government auditors will check a company’s books according to rigid federal standards. Financial scrutiny has become even more intense recently. There are entire seminars dedicated to preparing for government auditing, so know your stuff.
6. What are this year’s GSA costs?
GSA administrative costs can vary from year to year, so get the latest information and see what it means for your bottom line.
Read more: 10 things to ask before… Pursuing a government contract
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