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Carlos Gonzales
04-10-2009, 05:49 PM
As the UAMCC prepares to start announcing government contracts for power washing to it's members. It's important that all (members and future members) learn and understand the terminology that will be in these announcement.

The UAMCC's procurement agent has offered up a description for all of us to refer to if one is to decide to bid. Please become familiar with the terminology.

We expect to start posting UAMCC Pressure Washing contracts the week of the 20th (after the RT in GA) to all UAMCC Contractor and Supplier Members. We have come across some RFP's for our Supplier Members also.

Government Contracting Terminologies http://www.findrfp.com/images/spacer.gifBid - a tender, proposal or quotation submitted in response to a solicitation from a contracting authority

Bidders' Conference - a meeting to discuss with potential bidders, technical, operational and performance specifications, and/or the full extend of financial, security and other contractual obligations related to a bid solicitation

Closing Date - the deadline for all bid submissions

Competitive Bidding - offers submitted by individuals or firms competing for a contract, privilege or right to supply specified services or merchandise
Contract - obligation between competent parties up a legal consideration, to do or abstain from doing some act

Contract Amendment - an agreed addition to, deletion from, correction or modification of a contract.

Contractor - one who contracts to perform work or furnish materials in accordance with a contract.

Estimated Value - indicates the approximate value of the contract

Procurement - the process of obtaining material and services which includes the determination of requirements and acquisition from a supply system or by purchase from the trade

Proposal - an offer, submitted in response to a request from a contracting authority, that constitutes a solution to the problem, requirement or objective in the request

Invitation for Bid (IFB, IFBs) – an IFB is also referred to as a “sealed bid”. It is usually for requirements over $100,000, it is competitive and the lowest bid will win

Request for Proposal (RFP, RFPs) or Request for Tender (RFTs, RFT) - an RFP, while generally used for requirements of $25,000 or more, is often employed for requirements where the selection of a supplier cannot be made solely on the basis of the lowest price. An RFP is used to procure the most cost-effective solution based upon evaluation criteria identified in the RFP

Request for Quotation (RFQ, RFQs) - an RFQ is normally sent out when a requisition is received for goods and services valued at less than $25,000. The bid documents are kept simple so that the contract can be awarded quickly

Greg Nash
04-10-2009, 05:57 PM
good information carlos you should make it a sticky.