When you enter the world of government contracting, you'll quickly notice it's filled with government jargon. From acronyms to abbreviations, you may feel like you need a whole new dictionary to make sense of it. Don't worry, you're not expected to know the correct definition for every government abbreviation to be considered a successful GSA contractor, but you should familiarize yourself with the basic terms that are used quite often. In this blog, we'll highlight 10 acronyms that are used frequently and are important for you to know. 

If you have dealt with the federal government before whether it’s for taxes, going to the DMV, or applying for a grant, you know that you have to abide by a set of rules and follow a specific procedure. The same goes for federal contracting. Contractors and government agencies follow the Federal Acquisition Regulation (FAR) when they want to sell or buy through government contracts. The FAR is essentially the “rulebook” for federal procurement. While there are several important clauses in the FAR, we’ll highlight 4 clauses you should pay special attention to as a current or prospective GSA contractor.

The short answer is no, companies are able to win federal contracts without a GSA Schedule, but you could be limiting your company from capitalizing on prime government business. This is because federal government agencies often look to the GSA Multiple Award Schedule (MAS) program and other Government-Wide Acquisition Contracts (GWACs) first to purchase goods and services. However, sometimes a GSA Schedule isn’t the right fit for your company, or you may need some time to reevaluate your options. In this blog, we’ll discuss the benefits of holding a GSA Schedule contract and compare it to other government contracting options so you can make the best decision for your company.

You might have run across the terms “IDIQ” or “Indefinite Delivery, Indefinite Quantity” when researching options to sell your solutions to the government through the GSA Multiple Award Schedule (MAS) Program. It might just seem like another government contracting acronym to you, but it’s a crucial term to remember. So what are IDIQs? Indefinite Delivery, Indefinite Quantity (IDIQ) contracts were created to help streamline the procurement process and speed-up delivery. All GSA Schedule contracts are IDIQ, so if you are a prospective or current GSA contractor, you should understand how they work.

Government agencies often have a need to buy recurring goods and services, like office supplies, tools and equipment, and electronic parts. Government agencies know what they will need, but maybe not the exact quantity or exact timing of when they will need it. That is when a Blanket Purchase Agreement, or BPA, comes in.

When establishing a GSA Schedule contract, it is important to note the federal government intends to obtain equal or better pricing than the offeror’s Most Favored Customer (MFC). The reason is GSA has determined the prices under the GSA Schedule to be "Fair and Reasonable." During GSA contract negotiations, if the proposed prices are not deemed “Fair and Reasonable,” the offer can be either denied or negotiated further to meet the standards of the GSA. So, who determines "Fair and Reasonable" pricing? Let’s discuss the highlights so that your offer can be successful during the contract review process.