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What are the three contracting methods in the far?
The primary contracting methods used by the government are: micro-purchases. Simplified acquisition procedures. Sealed bidding. Contract by negotiations. And, consolidated purchasing programs, such as the use of GSA schedules, Government Wide Acquisition Contracts and other multiple award vehicles.
What are the three different types of indefinite delivery contracts?
There are three types of indefinite delivery contracts: definite quantity, indefinite-quantity and requirements contracts. All three are used to acquire supplies and/or services when the exact times and/or exact quantities of future deliveries are not known at the time of contract award.
What is a definite delivery contract?
Description: A definite-quantity contract (FAR 16.502) provides for delivery of a definite quantity of specific supplies or services for a fixed period, with deliveries or performance to be scheduled at designated locations upon order.
What is an indefinite quantity contract?
From Wikipedia, the free encyclopedia. In U.S. Federal government contracting, ID IQ is an abbreviation of the term indefinite delivery/indefinite quantity. This is a type of contract that provides for an indefinite quantity of supplies or services during a fixed period of time.
What is a multiple year contract?
Screen Name: Multi Year Contract. Definition: A multi-year contract means a contract for the purchase of supplies or services for more than 1, but not more than 5, program years. Such contracts are issued under specific congressional authority for specific programs.
What is an option year on a government contract?
Option years are a common feature of service contracts with the federal government. Many such contracts provide for a base period of performance and then allow the Government to exercise one or more options to extend the contract term.
What type of contracts are interagency acquisitions commonly conducted?
(a) Interagency acquisitions are commonly conducted through indefinite-delivery contracts, such as task- and delivery-order contracts.
What contract type puts the most risk on the contractor?
b. There are two fundamental types of contracts: Fixed-price and cost-reimbursement. Performance risk is higher for the U.S. Government under a firm fixed-price contract, while cost-reimbursable contracts place a higher cost risk on the U.S. Government.
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