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Week 4 Quiz - Sept. 22

Horizontales
A concern, including its affiliates, that is independently owned and operated, not dominant in the field of operation in which it is bidding on Government contracts.
Means the imperative.
Consolidating two or more requirements for supplies or services, previously provided or performed under separate smaller contracts, into a solicitation for a single contract that is likely to be unsuitable for award to a small-business concern.
The process of establishing a reasonable amount or amounts to be paid for supplies or services.
An order for services placed against an established contract or with Government sources.
There is only one person or company that can provide the contractual services needed
A term or condition used only in solicitations and applying only before contract award.
An oral or written document, that informs the vendor that he or she is in default and states what the vendor has to do to correct the deficiency.
The act of an authorized government representative (buyer) by which the government assents to ownership of existing and identified supplies or approves specific services rendered, as partial or complete performance of a contract.
The body of regulations that are the primary sources of authority governing the Federal government procurement process.
An individual or vendor that has entered into an agreement to provide goods or services to an agency.
Verticales
A promise or affirmation given by a contractor to the Government regarding the nature, usefulness, or condition of the supplies or performance of services furnished under the contract.
A contract type where the contractor assumes most of the risk
A person with the authority to enter into, administer, and/or terminate contracts and make related determinations and findings.
A written demand or written assertion by one of the contracting parties seeking, as a matter of right, the payment of money in a sum certain, the adjustment or interpretation of contract terms, or other relief arising under or relating to the contract.
Choosing a specific company and bypassing the competition
An offer to perform the work described in a contract at a specified cost; generally cost-specific, with a specific time and place for opening of the offers.
Any cost not directly identified with a single final cost objective.
A change to a solicitation before contract award
A procurement strategy where more than one contractor that is capable of performing the contract is solicited to submit an offer for supplies and services.
A unilateral right in a contract by which, for a specified time, the Government may elect to purchase additional supplies or services called for by the contract, or may elect to extend the term of the contract.
The procedures for obtaining goods or services, including all activities from the planning steps and preparation and processing of a requisition, through receipt and acceptance of delivery and processing of a final invoice for payment.
Failure of a vendor to comply with the terms and conditions of a contract.
The process in which the awarding agency determines that all applicable administrative actions and all required work of the award have been completed by the recipient and the awarding agency.
A mutually binding legal relationship obligating the seller to furnish the supplies or services (including construction) and the buyer to pay for them.