FINAL 50 Qs Flashcards
What is a protest?
a written objection by an interested party to any of the following:
(1) A solicitation or other request by an agency for offers for a contract for the procurement of property or services.
(2) The cancellation of the solicitation or other request.
(3) An award or proposed award of the contract.
(4) A termination or cancellation of an award of the contract, if the written objection contains an allegation that the termination or cancellation is based in whole or in part on improprieties concerning the award of the contract.
Protests can be found where in the FAR?
FAR 33
In what three FORA can an interested party file a protest?
i. Agency
ii. Government Accountability Office (GAO)
iii. U.S. Court of Federal Claims
How long should it take for a KO to resolve an agency protest?
35 days
How long should it take to resolve a GAO protest?
100 days
Two types of price index numbers:
simple
aggregate
Simple index numbers track:
one particular item over time (ex. eggs)
Aggregate index numbers track:
over the market
Estimate price using numbers symbols in adjusting for inflation/deflation:
NI = New Index OI = Old Index OP = Old Price NP = New Price
What is the deadline for filing a protest?
10 days after the basis of the protest is known
How long does the contractor have to request a debriefing?
3 days
How long does the government have to respond to debriefing and schedule?
5 days
Price Reasonableness is:
Contracting Officer’s responsibility
The price a prudent buyer would be willing to pay given market conditions and other factors
It’s a matter of judgment
Mutual assent is:
a meeting of the minds
an understanding
There are ____ elements of a contract.
6
What are the 6 elements of a contract?
(1) mutual assent
(2) consideration
(3) capacity
(4) lawful purpose
(5) certainty of terms
(6) form provided by law
Consideration is:
each party receives something of value and gives something of value
the name given to that value given by each party
Capacity is:
in order to be legally bound to a contract, a party must have the capacity to understand and appreciate the terms of the contract
Unauthorized commitments are:
agreements made by government personnel lacking contractual authority
Process where an unauthorized commitment is approved by an authority authorized to do so is:
ratification
Ratification means:
the act of approving an unauthorized commitment by an official who has the authority to do so
What are solicitation provisions?
a term or condition used only in solicitations and applying only before contract award.
What are contract clauses?
a term or condition used in contracts or in both solicitations and contracts, and applying after contract award or both before and after award.
What is a CLIN?
Contract Line Item Numbers
Two types of modifications are:
unilateral modifications
bilateral modifications
Unilateral modifications are:
Change order issued per the changes clause (within scope of contract)
Only contracting officer’s signature needed
May be used for administrative changes such as paying office change, fund cite change, et