Contract Extension – Don’t Wait
For a GSA Schedule contractor, a contract extension is an important process that should be completed without any delay. The GSA Schedule is a five-year contract with three additional five-year option periods for a total of 20 years. After each five-year period, every GSA Schedule contractor has to complete a contract extension prior to their contract’s expiration date in order to extend their contract for another five years. Although it is common to have your contract extended, GSA Schedule contractors should be as proactive as possible during this process to make sure there is no delay in being awarded the next option period.
The Contract Extension Process
Generally, the contract extension process is initiated by your GSA Contracting Officer by way of a formal letter inquiring about your intent to extend your GSA Schedule. You can expect this letter about six months before your contract expiration date. If you do not receive a letter from your Contracting Officer there is no harm in reaching out to them and asking when they expect to begin the review of your contract for the contract extension.
If your firm intends to extend your contract the Contracting Officer will ask you to affirm certain aspects of your GSA Schedule and your compliance to the terms and conditions awarded within your contract. Below is a list of action items you should be sure are completed when preparing for your contract extension:
- SAM Record - Make sure your SAM record is up to date and will not expire before or during your contract extension.
- Mass Mods - Visit the Vendor Support Center Mass Mod module and verify that you have accepted all mass mods associated with your GSA Schedule number.
- GSA Advantage! Price List - Verify that the price list you have posted on GSA Advantage! reflects the most recent modification to your contract.
- Small Business Size Designation - If you are classified as a Small Business, affirm that you are still eligible under the applicable small business size standards for your primary NAICS code.
Each contract extension can differ as it is your individual Contracting Officer’s authority to request additional documentation to verify different terms of your contract, such as making sure that your Commercial Sales Practices have been properly disclosed. See Winvale's recommendations for proper Commercial Sales Practices Compliance. They can also take the opportunity to verify that your pricing is still fair and reasonable.
As mentioned above, you can expect the contract extension process to begin approximately six months prior to your expiration date with the issuance of a letter. Once you receive the letter GSA typically allows two to three weeks for you to send them your notice of intent to renew. Once you have sent your notice of intent you may be limited in the modifications your Contracting Officer will allow, so it is a best practice to complete any modifications prior to submitting your intent notice. The completion of your contract extension is based on the discretion of your Contracting Officer. This can be anywhere from one month to one day before your contract expiration, so it is important for you to respond to any questions or clarifications requested by GSA as soon as possible. Upon the extension of your contract, your GSA Schedule number and SINs will not change, but you will have a new contract expiration date.
About Hannah Patrick
Hannah Patrick currently serves as an Engagement Manager with Winvale. She works in the Contracting Consulting department specializing in contract compliance, developing winning proposals for the GSA Multiple Award Schedule program, contract maintenance and contract strategy to achieve organizational objectives. Hannah previously supported Winvale’s Research Department as an Analyst where she worked with companies interested in creating or building a presence in the federal marketplace