Performance Work Statement (PWS): A type of work statement that provides performance standards to establish the performance levels required by…
Performance Standards: Standards that establish the performance levels required by the Government. Examples of performance standards include: quality standards (condition,…
Performance Based Service Acquisition (PBSA): The preferred method of contracting for services and supplies. PBSA is contracting for results, not…
Original Equipment Manufacturer (OEM): A producer/manufacturer that provides a product to its customers, who then proceed to modify or bundle…
Indefinite Delivery Indefinite Quantity (IDIQ) Contract: A contract for supplies/services that does not require or specify a fi– quantity of…
Independent Government Cost Estimate (IGCE): Assists the Task Order Contracting Officer in determining the reasonableness of a contractor’s cost and…
Incentives: Used to encourage better contractor quality performance. They may be either positive, negative, or a combination of both. Incentives…
Hubzone (Historically Underutilized Business Zone) Small Business Concern: A small business concern that appears on the “List of Qualified HUBZone…
Firm Fixed-Price Contract: A contract suitable for acquiring commercial items or for acquiring supplies or services on the basis of…
Federal Acquisition Streamlining Act (FASA): Public Law 103- 355 was enacted in October 1994, and was designed to simplify and…