What does it mean to set aside a contract?
What does it mean to set aside a contract?
A “set- aside” is a Federal contract designated for small business bidding only. It is the portion of a contract that is guaranteed to go to a minority owned company.
What does small business set aside mean?
A Small Business Set-Aside is the reserving of an acquisition or a portion of an acquisition exclusively for small business. The Set-Aside is governed by FAR Part 19 “Small Business” and based on North American Industrial Classification System (NAICS) and Small Business Administration (SBA) size standards.
When considering a small business set aside what is the rule of two?
The Rule of Two says that if there are two qualified and competitive small businesses expected to submit an offer between these two amounts, the contract opportunity is automatically set-aside for small business. Any contract above $150,000, according to FAR 2017
What is the rule of two in government contracting?
There must be at least two or more (Rule of Two) responsible small business concerns that are competitive in terms of market prices, quality, and delivery for an automatic set-aside to occur. Contract opportunities above the SAT of $150,000 shall also be set aside if the Rule of Two is met.
What number of employees is considered a small business?
five hundred
What is other than small business?
What is “Other Than Small Business?” This includes large businesses, state and local governments, non-profit organizations, public utilities, educational institutions, and foreign-owned firms that receive Federal contracts, if any portion of the contract is to be performed in the United States.
What is the dollar threshold for a subcontracting plan?
Federal contractors are required to maintain an acceptable subcontracting plan if they are an other than small business (including all subsidiaries and affiliates, both foreign and domestic) and the estimated dollar value of the base contract and all option periods exceeds, or is expected to exceed, $700,000.
Are you a small disadvantaged business?
A Small Disadvantaged Business (SDB) is a small business that is at least 51 percent owned by one or more individuals who are both socially and economically disadvantaged. SDB status makes a company eligible for bidding and contracting benefit programs involved with federal procurement.
