Contracting Exam 2 Flashcards
What are the response times for Solicitations?
30 days (reasonable amount of time)
-KO may combine synopsis/solicitation for commercial items
45 days for R&D actions that exceed the SAT ($150K)
Publicizing Contracting Actions is which FAR Part?
FAR Part 5
What is a Synopsis?
A “snapshot” of the requirement that the government is trying to fulfill. Examples of included data: -Description of action -Quantity -Place of performance -Competition requirement -Date the solicitation will be published
True or False: A synopsis is posted on FedBizOpps?
TRUE
What are the exceptions to publicizing?
- Synopsis cannot be worded to preclude disclosure of an agency’s needs and disclosure would compromise national security
- Unusual and compelling urgency
- Foreign Military Sales (if source directed)
- Required by statute
What is the preferred method of describing requirements?
Performance Work Statement (PWS)
Sealed Bidding is in which FAR part?
FAR Part 14 (Invitation For Bids)
True of False: The primary method of contract for construction is Sealed Bidding
TRUE
What is a Construction Contracting?
- Definition – Construction means construction, alteration, or repair (including dredging, excavating and painting) of buildings, structures, or other real property
- Primary method of contract for construction is sealed bidding
- Must prepare a performance evaluation for all contracts over $700,000 and for any construction contract, regardless of value, if terminated for default. FAR 42.1502(e).
What is the Buy American Act?
- Buy U.S. products over foreign manufacture
- Supports U.S. socio-economic goals
- Exceptions to the Act:
- Are for use outside the US
- Unreasonable cost
- Domestic preference inconsistent with public interest
- Are not mined, produced or manufactured in the US in sufficient quantities
- Purchased specifically for commissary resale
What is a Commercial Item
Item that has been or will be sold to the general public; may require minor government directed modifications
What is a D&F?
Determination and Findings- Rationale for business decisions made concerning the acquisition (i.e. Exercising option years)
When is a Justification and Approval (J&A) required?
Sole Source Requirement
What is a CLIN?
Contract Line Item Number: Specify the products or services being procured.
What information goes into a CLIN?
- Unit price
- Item Description
- Delivery schedule
- Accounting Classification
What contract is used when it is not possible, at the time of award, to accurately estimate the extent or duration of the work or to anticipate future costs with a degree of confidence?
Time and Materials
What FAR covers Multi-year and Multiple year (Special Contracting Methods) contracts?
FAR Part 17
Supply/Service contracts will not exceed how many years?
5 years
To exercise an option you need what written justification?
D&F (Determination & Findings)
Cost reimbursable contracts require vendors to provide what type of outcome?
Best Effort
There’s a serious doubt about the stability of market or labor and conditions during an extended period during a specified contingency, a recommended fixed price contract type to use is what?
Fixed Price with an Economic Price Adjustment
What is a Multiyear contract?
- A contract for the purchase of supplies or services for more than 1, but not more than 5, program years
- Requires congressional approval
What is a Multiple Year contract?
- Not the same as Multi-year contracts
- May be IDIQ contracts or contracts with annual options
- Does NOT require Congressional Approval
Contracting Officer may exercise options only after determining that:
- *Funds are available
- Option fulfills an existing need
- Option is the most advantageous method of fulfilling the need
- Option was synopsized IAW FAR Part 5
- *Determination and Findings
- Supply/Service contracts will not exceed 5 years (Base year plus 4 option years)
