Author: Ashok

  • Request for Proposal (RFP)

    A document outlining a government agency’s requirements and the criteria for the evaluation of offers.

  • Protege

    A firm in a developmental stage that aspires to increasing its capabilities through a mutually beneficial business-to-business relationship.

  • PRO-Net

    ‘ Procurement Marketing Access Network, or PRO-Net, is a “virtual” one-stop procurement shop. The database offers an electronic search engine for contracting officers and serves as a marketing tool for small businesses that register with the system. It contains the profiles of thousands of small firms.

  • Prime Contract

    A contract awarded directly by the Federal government.

  • Partnering

    A mutually beneficial business-to-business relationship based on trust and commitment and that enhances the capabilities of both parties.

  • One-Stop Capital Shops (OSCSs)

    OSCSs are the SBA’s contribution to the Empowerment Zones/Enterprise Communities Program, an interagency initiative that provides resources to economically distressed communities. The shops provide a full range of SBA lending and technical assistance programs.

  • Negotiation

    Contracting through the use of either competitive or other-than-competitive proposals and discussions. Any contract awarded without using sealed bidding procedures is a negotiated contract.

  • Mentor

    A business, usually large, or other organization that has created a specialized program to advance strategic relationships with small businesses.

  • Joint Venture

    In the SBA Mentor-Protégé Program, an agreement between a certified 8(a) firm and a mentor firm to perform a specific federal contract.

  • Intermediary Organization

    Organizations that play a fundamental role in encouraging, promoting, and facilitating business-to-business linkages and mentor-protégé partnerships. These can include both nonprofit and for-profit organizations: chambers of commerce; trade associations; local, civic, and community groups; state and local governments; academic institutions; and private corporations.

  • Full and Open Competition

    With respect to a contract action, “full and open” competition means that all responsible sources are permitted to compete.

  • Federal Acquisition Regulation (FAR)

    The body of regulations which is the primary source of authority governing the government procurement process. The FAR, which is published as Chapter 1 of Title 48 of the Code of Federal Regulations, is prepared, issued, and maintained under the joint auspices of the Secretary of Defense, the Administrator of General Services Administration, and the…

  • Fair and Reasonable Price

    A price that is fair to both parties, considering the agreed-upon conditions, promised quality, and timeliness of contract performance. “Fair and reasonable” price is subject to statutory and regulatory limitations.

  • Equity

    An accounting term used to describe the net investment of owners or stockholders in a business. Under the accounting equation, equity also represents the result of assets less liabilities.

  • Emerging Small Business

    A small business concern whose size is no greater than 50 percent of the numerical size standard applicable to the Standard Industrial Classification code assigned to a contracting opportunity.

  • Electronic Data Interchange

    Transmission of information between computers using highly standardized electronic versions of common business documents.

  • Defense Contractor

    Any person who enters into a contract with the United States for the production of material or for the performance of services for the national defense.

  • Defense Acquisition Regulatory Council (DARC)

    A group composed of representatives from each Military department, the Defense Logistics Agency, and the National Aeronautics and Space Administration and that is in charge of the Federal Acquisition Regulation (FAR) on a joint basis with the Civilian Agency Acquisition Council (CAAC).

  • Contractor Team Arrangement

    An arrangement in which (a) two or more companies form a partnership or joint venture to act as potential prime contractor; or (b) an agreement by a potential prime contractor with one or more other companies to have them act as its subcontractors under a specified government contract or acquisition program.

  • Contracting Officer

    A person with the authority to enter into, administer, and/or terminate contracts and make related determinations and findings.

  • Contracting

    Purchasing, renting, leasing, or otherwise obtaining supplies or services from nonfederal sources. Contracting includes the description of supplies and services required, the selection and solicitation of sources, the preparation and award of contracts, and all phases of contract administration. It does not include grants or cooperative agreements.

  • Contract

    A mutually binding legal relationship obligating the seller to furnish supplies or services (including construction) and the buyer to pay for them.

  • Certified 8(a) Firm

    A firm owned and operated by socially and economically disadvantaged individuals and eligible to receive federal contracts under the Small Business Administration’s 8(a) Business Development Program.

  • Certificate of Competency

    A certificate issued by the Small Business Administration (SBA) stating that the holder is “responsible” (in terms of capability, competency, capacity, credit, integrity, perseverance, and tenacity) for the purpose of receiving and performing a specific government contract.

  • Business Information Centers (BICs)

    One-stop locations for information, education, and training designed to help entrepreneurs start, operate, and grow their businesses. The centers provide free on-site counseling, training courses, and workshops and have resources for addressing a broad variety of business startup and development issues.

  • Best and Final Offer

    For negotiated procurements, a contractor’s final offer following the conclusion of discussions.

  • Affiliates

    Business concerns, organizations, or individuals that control each other or that are controlled by a third party. Control may include shared management or ownership; common use of facilities, equipment, and employees; or family interest.

  • Acquisition

    The acquiring of supplies or services by the federal government with appropriated funds through purchase or lease.

  • Subcontract

    A contract between a prime contractor and a subcontractor to furnish supplies or services for the performance of a prime contract or subcontract.

  • Standard Industrial Classification (SIC) Code

    A code representing a category within the Standard Industrial Classification System administered by the Statistical Policy Division of the U.S. Office of Management and Budget. The system was established to classify all industries in the US economy. A two-digit code designates each major industry group, which is coupled with a second two-digit code representing subcategories.

  • Small Disadvantaged Business Concern

    A small business concern that is at least 51 percent owned by one or more individuals who are both socially and economically disadvantaged. This can include a publicly owned business that has at least 51 percent of its stock unconditionally owned by one or more socially and economically disadvantaged individuals and whose management and daily…

  • Small Business Innovative Research (SBIR) Contract

    A type of contract designed to foster technological innovation by small businesses with 500 or fewer employees. The SBIR contract program provides for a three-phased approach to research and development projects: technological feasibility and concept development; the primary research effort; and the conversion of the technology to a commercial application.

  • Small Business Development Centers (SBDC)

    SBDCs offer a broad spectrum of business information and guidance as well as assistance in preparing loan applications.

  • Small Business

    A business smaller than a given size as measured by its employment, business receipts, or business assets.

  • Service Corps of Retired Executives (SCORE)

    The Service Corps of Retired Executives (SCORE) is a 12,400-member volunteer association sponsored by the SBA. SCORE matches volunteer business-management counselors with present prospective small business owners in need of expert advice.

  • Super Majority

    A super majority is the percentage of votes above a simple majority (51%) required to make decisions on behalf of the firm.

  • North American Industry Classification System (NAICS)

    An NAICS code is the Standard Industrial Classification number listed in the Standard Industrial Classification Manual which is published by the Office of Management and Budget. The NAICS Manual is available at your local library or on the Internet site NAICS codes are used by the Federal Government to identify and classify specific categories…