If you are coming to the end of your GSA Schedule contract’s 5-year option period, chances are you have received a notice from GSA for a contract extension. What do you do with this information? Well, you have 2 options: you can let your GSA Schedule contract expire, or you can choose to continue your contract through an option extension. If you are unfamiliar with the GSA Schedule extension process, you may have several questions swirling around in your head. Here’s what you need to know about the option extension so you can make the best decision for your company.
As a small business, you have a lot of resources available to help you succeed in the government marketplace. In an effort to increase small business participation, the federal government has designated small business contracting vehicles set aside specifically to support small business efforts. Small businesses can also compete in other contract vehicles meant for both large and small businesses.
Do you know what the real benefits of being on the GSA Schedule are? Learn the top 10 reasons (and advantages) why you should consider it.
A threshold, simply put, is a ceiling or limit and when it’s exceeded, triggers an action. Through the government contracting lens, a threshold is the figurative ceiling placed on the total cost to purchase supplies and services, including construction as well as research and development. If the total cost of a purchase is below the ceiling, no additional action is required to issue a purchase order. However, if the total cost of a purchase reaches or exceeds the limit, the government buyer must follow additional streamlined acquisition processes before and after issuing the purchase order. So what does all this mean for GSA Schedule contractors?
If your company manufacturers the products you sell, you can simply add them to your GSA Schedule. However, if you are a reseller and offer products through a manufacturer, you will most likely need a Letter of Supply. GSA requires contractors to provide a Letter of Supply with initial GSA MAS offers, or product additions to your contract if the products being added are manufactured by another company. Getting the Letter of Supply out as soon as possible is an important step in successfully acquiring or maintaining your GSA Schedule.
GSA has undergone some major transformations over the course of the 2020 year. From reducing 24 separate legacy Schedules down to one single Schedule, to migrating several GSA applications to one central location, Beta.Sam.gov, it’s safe to say there is much to stay on top of. And with more changes projected for 2021, we decided to compile a directory of GSA’s most useful tools and programs to help GSA contractors stay on track.
If you have come across the terms “allowable” and “unallowable” costs in relation to your GSA Schedule contract but you have no idea what they mean, you have come to the right place. As consultants at Winvale, we don’t expect all of our clients to be savvy accountants when it comes to costs incurred on their GSA Multiple Award Schedule (MAS) contract, and we don’t expect you to know either.