Contractor and the ko - Study guides, Class notes & Summaries

What are the three contracting life cycle phases - Pre-award, Award, and Post-award Define the pre-award phase - Invokes all work performed by both the buyer (Gov't or Prime Contractor) and seller (contractor or sub) in communicating the buyer's requirements and providing a solution to those requirements What typically starts before the contracting process? - Requirement definition, budgeting/funding process, and acquisition planning. The pre-award phase consist of what two primary ac...

CLC 222 Questions and Answers with Verified Solutions Truth in Negotiations Act (TINA) Occurs when the contractor gives false cost and pricing data during negotiations subject. Defective pricing means the contractor certified to false data. Currently, the TINA threshold is $750,000. The possibility of defective pricing must be analyzed and substantiated before the KO takes action. What are Fixed Price Contracts? Fixed price contracts provide for a price that is not subject to any a...

Contracting Exam 1 Latest Update Already Passed 3 phases of contracting contract planning, contract formation, contract administration source of the government's contracting powers The Constitution The constitution is the heart of the American legal system 3 branches of government legislative, executive, judicial 3 types of contracting officers PCO, ACO, TCO KO primarily engaged in awarding contracts Procuring Contracting Officer (PCO) Primarily engaged in administering ...

What is the Micro-purhcase threshold for supplies? -:- $10k All incentive contracts (schedule or performance) must also include what? -:- Cost incentive or constraint What requires funds to be used only for needs or services in the year of the appropriations obligation period? -:- Bona Fide Needs Rule What contract types can be used for commercial item purchases? -:- FFP or FPEPA What is the Simplified Acquisition Threshold for commercial products and services? What is it for non...

Pre-Award Phase - correct answer (1st phase of contracting life cycle) This phase involves all work performed by the buyer (Government or prime contractor) and seller (contractor or subcontractor) in communicating the buyer's requirements and providing a solution to those requirements. What activities make up the Pre-Award Phase? - correct answer 1) Develop Solicitation 2) Develop Offer Award ...

KOs shall distribute copies of contracts or mods within 10 working days after execution by all parties. As a minimum, the KO shall -- - ANSWER-(a) Distribute simultaneously 1 signed copy or reproduction of the signed contract to the contractor and the paying office; (b) When a contract is assigned to another office for contract administration provide a copy to that office with the distro list; (c) Distribute 1 copy to each accounting and finance office (funding office) whose funds are cite...

Con 3990 Prep Exam Questions With 100% Correct Answers What are the three contracting life cycle phases - answerPre-award, Award, and Post-award Define the pre-award phase - answerInvokes all work performed by both the buyer (Gov't or Prime Contractor) and seller (contractor or sub) in communicating the buyer's requirements and providing a solution to those requirements What typically starts before the contracting process? - answerRequirement definition, budgeting/funding process, and a...

What is a Contracting Officer Representative? - Answer-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: - Answer-The contracting officer appoints the contracting officer's representative in ...

KOs shall distribute copies of contracts or mods within 10 working days after execution by all parties. As a minimum, the KO shall -- correct answer: (a) Distribute simultaneously 1 signed copy or reproduction of the signed contract to the contractor and the paying office; (b) When a contract is assigned to another office for contract administration provide a copy to that office with the distro list; (c) Distribute 1 copy to each accounting and finance office (funding office) whose funds ...

CLC 222 Module 4-6 Exam || With Questions & 100% Correct Answers CLC 222 Module 4-6 Exam || With Questions & 100% Correct Answers What are Cost-Reimbursement Contracts? - ANSWER - Cost-reimbursement contracts provide for payment of allowable incurred costs. They establish: •An estimate of total cost •The purpose of obligating funds •A ceiling that the contractor may not exceed, except at its own risk, without the approval of the KO This type of contract is suitable for use onl...