Types of Contracts

glarsen's version from 2015-10-25 22:53

Section 1

Question Answer
What is a Government wide acquisition (GWAC)?A task or delivery order contract ofr information technology established by one agency for Government wide use that is operated
What is the 8(a) program?Far 19.800(a) An SBA program which authorizes the SBA to enter into all types of contracts with other agencies and let subcontractors for performing those contracts for them.
What is full and open competition? FAR 2.101 - Means that all responsible sources are permitted to compete
How does "full and open competition after the exclusion of sources" differe from "full and open competition"?FAR 6.202 - Agencies may excluded a particular source from a contract action in order to maintain alternative sources.
When is a total small business set-aside required?FAR Small Business Programs 19.502-2 - When the acquistion is between $3k-$150k.
Under what conditions is an 8(a) competition authorized?FAR 19.805-1(a)(1) - There is resonable expection that two or more eligble and responsible firms will submit offers and that award can be made at fair market price. (2) (2) The anticipated total value of the contract, including options, will exceed $6.5 million for acquisitions assigned manufacturing North American Industry Classification System (NAICS) codes and $4 million for all other acquisitions.
Under what conditinos is an 8(a) sole source authorized? (b) Where an acquisition exceeds the competitive threshold, the SBA may accept the requirement for a sole source 8(a) award if— (1) There is not a reasonable expectation that at least two eligible and responsible 8(a) firms will submit offers at a fair market price; or (2) SBA accepts the requirement on behalf of a concern owned by an Indian tribe or an Alaska Native Corporation.
Under what circumstance is other than full and open competition authorized?FAR 6.302-1 Only one responsible source and no other supplies or services will satisfy agency requirements. 6.302-2 Unusual and compelling urgency. 6.302-3 Industrial mobilization; engineering, developmental, or research capability; or expert services. 6.302-4 International agreement. 6.302-5 Authorized or required by statute. 6.302-6 National security. 6.302-7 Public interest.
Contract types are grouped into what two broad categories?fixed Price, cost-reimbursement

Section 2

Question Answer
Describe fixed price contracts.Fixed-price types of contracts provide for a firm price or, in appropriate cases, an adjustable price.
Describe cost-reimbursement contracts.Cost-reimbursement types of contracts provide for payment of allowable incurred costs, to the extent prescribed in the contract.
What factors should the CO consider in selecting and negotiating the contract type?(a) Price competition, (b) Price analysis, (c) Cost analysis, (d) Type and complexity of the requirement., (e) Urgency of the requirement., (f) Period of performance or length of production run, (g) Contractor’s technical capability and financial responsibility., (h) Adequacy of the contractor’s accounting system. (i) Concurrent contracts. (j) Extent and nature of proposed subcontracting. (k) Acquisition history

Section 3

Question Answer
Under what conditions must the contracting officer use a FFP contract?FAR 16.102(a) Contracts resulting from sealed bidding shall be FFP
What are the properties of a FFP contract?Max risk and full responsibility fall on teh contractor.
When is a FFP suitable for use?When acq of commercial items or other supplies or services on the basis of a resonably definite adequate price competition.

Section 4

Question Answer
FFP w/ Economic Price AdjustmentA fixed-price contract with economic price adjustment provides for upward and downward revision of the stated contract price upon the occurrence of specified contingencies.
FFP w/ IncentiveA fixed-price incentive contract is a fixed-price contract that provides for adjusting profit and establishing the final contract price by a formula based on the relationship of final negotiated total cost to total target cost.
FFP w/ Prospective Price RedeterminationA fixed-price contract with prospective price redetermination may be used in acquisitions of quantity production or services for which it is possible to negotiate a fair and reasonable firm fixed price for an initial period, but not for subsequent periods of contract performance.
FFP w/ Level of effort ContractsA firm-fixed-price, level-of-effort term contract is suitable for investigation or study in a specific research and development area. The product of the contract is usually a report showing the results achieved through application of the required level of effort. However, payment is based on the effort expended rather than on the results achieved.

Section 5

Question Answer
What are the properties of cost-reimbursement contracts?Provide for payment of allowable incurred costs.
When are the suitable for use?Used when uncertainties involved do not permit costs to be estimated with sufficient accuracy.
Cost sharing contractContractor receives no fee (R/D)
Cost Plusreceives no fee / re-reimbursed for an agreed upon portion
Cost plus award feeprovides for a fee with a base amount / award amount
Cost plus fixed feepayment negotiated in beginning and can be adjusted w/change in work