In contrast, the Other Transaction Authority (OTA) are contracts not regulated by the FAR standards, tend to be much quicker and follow a much easier process than FAR regulated contracts. While FAR contracts have long been the standard, they can be time-consuming and lengthy.
Generally, government procurement contracts must follow the Federal Acquisition Regulations (FAR). Get the information here, on how we became a top company for government contracting.
OTA CONTRACT TYPE HOW TO
Make sure to check how to certify your business to ensure you can work with the federal government. The real question should be, “How can I succeed at landing a government contract?” First, you’ll need the appropriate government contracting certifications. This is a great opportunity that is often avoided by small businesses due to the perceived level of complexity.
In fact, government agencies, in order to ensure equality, often allocate a part of their contracts for small, minority-owned, and women-owned businesses. They can earn significant revenues if they nail the process down. Many small businesses, in particular, like to engage in government contracting since it’s lucrative. Given the volume of transactions that the US government makes each year, it shouldn’t be surprising that many businesses want to bid for their contracts. The government is like any other business entity, it needs products and services to operate-and who better to ask than the public for help? In doing this, they address their needs and support the economy. So, what is government contracting? This is a process where you enter into an agreement with a government agency to perform a task or sell your goods or services.
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