Easily Insert Option Choice in the Electrical Service Contract

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How to Insert Option Choice in the Electrical Service Contract

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uh this is our webinar on uh service work really want to kind of have you think maybe outside of the box a little bit here especially if youre not doing much service work or hasnt been a major part of your business so one of the things i want you to just open your mind to right up at the top is that there are typically better profit margins on service work as opposed to when you bid a job youre typically not in a competitive situation or if you are its a limited competitive situation uh like when you you know you bid a job out there and you might have three competitors you might have 30 competitors so typically less competition does end up in better profit margins so thats one of the main motivations i want you to think about for service work is that you can get better margins on the service work well go into that a little bit more in detail as we go here the other aspect of it is it may open new doors you know uh i know a lot of people right now are so busy that they cant see s

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What factors should you consider when selecting a contract type?

16.104 Factors in selecting contract types. (a) Price competition. (b) Price analysis. (c) Cost analysis. (d) Type and complexity of the requirement. (e) Combining contract types. (f) Urgency of the requirement. (g) Period of performance or length of production run.

What is a FAR Part 12 contract?

Part 12 of the FAR ensures that contractors and government alike avoid the time-consuming and formal process of a fully negotiated procurement process for (1) purchases of a relatively small value, or (2) where the goods and services are already available in general commerce.

What is contract selection?

Contract selection is based on uncertainty of scope, assignment of risk, need for predictable costs, and the importance of meeting milestone dates. Total fixed cost is a single price where the scope is well defined.

What are options in government contracts?

Federal Acquisition Regulation (FAR) 2.101 defines an option as 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. There are some docHub points

What is the difference between FAR and DFAR?

What are the FAR DFARS compliance requirements? The FAR contractual clauses are specified on every Federal contract, and the DFARS clause is specified on almost every DOD contract.

What does FAR Part 37 deal with acquisition of?

This subpart prescribes policies and procedures for acquiring advisory and assistance services by contract.

What is the difference between a FAR and non FAR DoD contract?

When a Contracting Officer references a FAR-based contract, they mean a contract under one of these authorities, subject to a plethora of regulations and pre-written, often pre-determined clauses. Non-FAR points to statutory, rather than regulatory authorities.

What is far part 36?

This part prescribes policies and procedures peculiar to contracting for construction and architect-engineer services. It includes requirements for using certain clauses and standard forms that apply also to contracts for dismantling, demolition, or removal of improvements.

What does FAR mean in procurement?

The Federal Acquisition Regulation (FAR) is the primary regulation for use by all executive agencies in their acquisition of supplies and services with appropriated funds. The FAR also contains standard solicitation provisions and contract clauses and the various agency FAR supplements.

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Insert Option Choice in the Electrical Service Contract