Sealed bidding - Study guides, Class notes & Summaries

CLC-222 Contracting Questions and Answers Graded A+ What is a Contracting Officer Representative? A technical representative that is appointed by the contracting officer through a designation letter The procuring Contracting Officer, Administrative Contracting Officer, Termination Contracting Officer, and the Contracting Officer's Representative are key players in the acquisition process. From the following statements, choose the correct answer: The contracting officer appoints the...

Discuss the Form Contract domain of the Award phase of the contract management life cycle. Discuss the processes involved in this domain. - ANSWERThis is mostly the domain of the buyer. It is the process of determining reasonable cost and pricing, conducting negotiations, selecting the source, and managing protests and appeals. It has a direct impact on the performance and results of the post-award processes. 1. Cost or price analysis - these two techniques are used to determine a fair and rea...

Uniform Contract Format (UCF) correct answersis a standardized structure used to facilitate the preparation of solicition and contracts the ucf is not required for correct answers1.Construction 2.Architect and engineering uilding, overhaul, and repair 4.Letter requests for proposals in accordance with FAR 15.203(e); 5.Contracts exempted by the Agency Head or designee; or 6. Acquisitions for supplies or services that require special contract forms that are inconsistent with the UCF whe...

CON 1100 UNIT 5 EXAM REVIEW Uniform Contract Format (UCF) - ANS-is a standardized structure used to facilitate the preparation of solicition and contracts the ucf is not required for - ANS-1.Construction 2.Architect and engineering uilding, overhaul, and repair 4.Letter requests for proposals in accordance with FAR 15.203(e); 5.Contracts exempted by the Agency Head or designee; or 6. Acquisitions for supplies or services that require special contract forms that are inconsistent with the...

CLC-222 Contracting Questions and Answers Already Passed What is a Contracting Officer Representative? A technical representative that is appointed by the contracting officer through a designation letter The procuring Contracting Officer, Administrative Contracting Officer, Termination Contracting Officer, and the Contracting Officer's Representative are key players in the acquisition process. From the following statements, choose the correct answer: The contracting officer appoints...

Secondary Distribution correct answers A redistribution of large block of securities held by a few owners (insiders/institutions) - NOT secondary market. May be purchased on margin Primary Distribution correct answers Cannot be purchased on margin Competitive Bidding correct answers Method of underwriter being chosen; typically for munis and debit - issuer chooses the firm with the lowest net cost. Always Sealed Negotiated Underwriting correct answers Method of underwriter being chosen;...

CONTRACTING CERTIFICATION EXAM Question and answers correctly solved CONTRACTING CERTIFICATION EXAM Used to award negotiated contracts in which signatures of both parties on a single document is appropriate. - correct answer SF 26 Used to amend any solicitation or modify any contract. - correct answer SF 30 May be used to award either negotiated contracts or contracts utilizing sealed bidding. - correct answer SF 33 Used for simplified acquisitions at or below the micro-purch...

Surety - a pledge or guarantee by an insurance company, bank, individual or corporation on behalf of a bidder or offeror which protects against default or failure of the principal to satisfy the contractual obligations. accountability - The principle that employees who accept an assignment and the authority to carry it out are answerable to a superior or a higher authority for the outcome. acceptance - 1. Indication that an offeree is bound by the terms of the offer. 2. An indication by o...

Used to award negotiated contracts in which signatures of both parties on a single document is appropriate. SF 26 Used to amend any solicitation or modify any contract. SF 30 May be used to award either negotiated contracts or contracts utilizing sealed bidding. SF 33 Used for simplified acquisitions at or below the micro-purchase threshold, except for purchases under unusual and compelling urgency or in support of contingency operations. SF 44 Prescribed for use ...

Methods of Vendor Selection - ️️1. Competitive Sealed Bidding 2. Competitive Contracting 3. Competitive Quotations 4. Proprietary Purchases 5. Emergency Purchases Contract - ️️Agreement which is legally binding relationship enforceable by law, between a vendor who agrees to provide or perform goods or services and a conbtracting unit which agrees to compensate a vendor as defined by and subject to the terms of the agreement. Forms of NJ Municipal Government - ️️1. Boroughs ...