Contracting Test #3 Flashcards
What is Mutual Assent?
Meeting of the minds -
Offeror and offeree understand the same thing
What is consideration?
Each party receives something of value and gives something of value
What is capacity?
ability to understand and appreciate the terms of the contract
Terms in a contract MUST be clear and include what elements?
Price
Delivery schedule
Quantity
PWS/SOW
6 Essential Contract Elements
- MUTUAL ASSENT (“meeting of the minds”)
- CONSIDERATION (each party receives something of value)
- CAPACITY (competence and authority)
- Lawful purpose (obey the FAR & statutes, anti-deficiency act)
- Certainty of Terms (clear terms)
- Form provided by law (written, oral, implied)
Express Authority
KO formally appointed through a SF 1402 (warrant); authority is limited
A type of authority that is not recognized by the government
Apparent authority
What is an unauthorized commitment?
an agreement that is NOT binding solely because the Government representative who made it lacked the authority to enter into that agreement on behalf of the Government
An unauthorized commitment must be __________.
ratified
What is a ratification?
The act of approving an unauthorized commitments by an official who has the authority to do so.
What is a solicitation?
A document sent to prospective contractors by a Government agency, requesting the submission of offers or information.
Types of solicitation
Requests for Quotations (FAR Part 13)
Invitation for Bids (FAR Part 14)
Requests for Proposals (FAR Part 15)
Changes to a solicitation
Amendment
Methods of communicating to industry
Electronic
Oral
Written
Reasons for solicitation
- Increase competition
- Broaden industry participation
- Assist small business concerns
Response time for supplies and services, except for commercial items
30 days
Response time for R&D actions that exceed the SAT
45 days
A synopsis must be prepared if the actions exceed what dollar threshold?
$25,000
Synopsis is posted where?
FedBizOps
Exceptions to a Synopsis
Unusual and compelling urgency
order placed under 16.5 (indefinite delivery contracts)
compromise national security
one one source (utility services)
Contract type selection criteria
-Adequacy of Contractor’s Accounting System -Complexity and type of the requirement -Urgency of Requirement -Period of performance
Most common form of issuing a solicitation
Written form
Solicitation/Contract/Order for Commercial Items
SF 1449
What is a provision?
A written term or condition used ONLY in SOLICITATIONs and applies only before contract award.
What is mandatory for commercial item solicitations?
(2) provisions
(2) clauses
When is a Uniform Contract Format (UCF) used?
used for non-commercial goods and services exceeding $250,000
Evaluation factors in a source selection
- Cost/Price
- Quality of the product or service through consideration of one or more non-cost evaluation factors such as:
- Past performance
- Compliance with solicitation requirements
- Technical excellence
- Management capability
What should be evaluated for negotiated competitive procurements that exceed the SAT
Past performance
Methods of Evaluation
Trade off process
Lowest Price Technically Acceptable (LPTA)
Why provide financing?
Contract financing may general the following benefits:
- High dollar production
- Expedited performance
- Broadening of the production base
- Increased competition
- Aid to small businesses
- Fosters liberal lending by private lending institutions
What term or condition is used in both solicitation and contracts?
Clauses
Past performance should be used in source selection for evaluation. (True or False)
True
To be considered for award, a bid must comply in all __________ respects with the invitation for bids which means it is ___________.
material; “responsive”
A bid shall be rejected when the bidder imposes __________.
conditions
Requests for Proposals may be either:
Full and Open Competition
Full and Open (after exclusion of sources)
Sole Source/limited competition
What is best value?
Best value contracting means that the Government is looking at factors “other than” just cost/price to make a selection
Who is designated as the Source Selection Authority?
Contracting Officer; unless the agency head appoints another individual
Contracting Officers shall provide written notification to each offeror whose proposal was in the competitive range, but was not selected for awards within how many days?
3 days
Debriefing should occur within _____ days after receipt of the written request.
5
When does the preaward debriefing occur?
within competitive range
What is the primary source to get a contractor’s past performance data when conducting selections?
Past Performance Information Retrieval System (PPIRS)
______________ is the determination that price is consistent with what a prudent buyer would be willing to pay given market conditions and other factors.
Price reasonableness
What is a protest?
A written objection by an interested party to a solicitation or a award of a contract by or for a federal agency.
KOs must notify all unsuccessful offerors of the award results no later than ________ days after contract award.
3