“Fair-Opportunity-to-be-Considered” Rule: All prime contractors (including their designated subcontractors, if applicable) are considered to possess the basic qualifications for success…
Cost-Reimbursement Contract: A contract that provides for the payment of allowable incurred costs, to the extent prescribed in the contract.…
Cost-Plus-Fixed-Fee Contract: A cost-reimbursement contract that provides for payment to the contractor, of a negotiated fee that is fixed at…
Cost-Plus-Award-Fee Contract: A cost-reimbursement contract that provides for a fee consisting of a base amount (which may be zero) fixed…
Cost-Plus-Incentive-Fee Contract: A cost-reimbursement contract that provides for an initially-negotiated fee to be adjusted by a formula based on the…
Contractor Performance Assessment Reporting System (CPARS): The Department of Defense (DOD) Enterprise Solution for collection of contractor past performance information…
Blanket Purchase Agreement (BPA): A simplified method of filling anticipated repetitive needs for supplies or services by establishing “charge accounts”…
Best Value: The expected outcome of an acquisition that, in the Government’s estimation, provides the greatest overall benefit in response…
Acceptable Quality Level (AQL): Established as part of a Quality Assurance Surveillance Plan. They must be realistic, stating the minimum…