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WOSB and FAR

WOSB and FAR

WOSB Overview

On October 7, 2010, the U.S. Small Business Administration published a final rule effective February 4, 2011, aimed at expanding federal contracting opportunities for women-owned small businesses (WOSBs). The Women-Owned Small Business (WOSB) Federal Contract program authorizes contracting officers to set aside certain federal contracts for eligible: Women-owned small businesses (WOSBs)

Eligibility Requirements

To be eligible, a firm must be at least 51% owned and controlled by one or more women, and primarily managed by one or more women. The women must be U.S. citizens. The firm must be “small” in its primary industry in accordance with SBA’s size standards for that industry. In order for a WOSB to be deemed “economically disadvantaged,” its owners must demonstrate economic disadvantage in accordance with the requirements set forth in the final rule.

information obtained from: http://www.sba.gov/content/contracting-opportunities-women-owned-small-businesses/

Federal Acquisition Regulation (FAR)

The Federal Acquisition Regulation (FAR) is a substantial and complex set of rules governing the federal government’s purchasing process. Its purpose is to ensure purchasing procedures are standard and consistent, and conducted in a fair and impartial manner. So whether you are a small business owner or the contracting official, it is important to understand FAR. There are many costly pitfalls if you don’t take the time to understand the provisions in your contract, which often reference areas of the FAR.

The FAR is issued and maintained jointly under the statutory authorities granted to the Secretary of Defense, Administrator of General Services and the Administrator, National Aeronautics and Space Administration. Statutory authorities to issue and revise the FAR have been delegated to the Procurement Executives in DOD, GSA and NASA.

Government contracts are different from commercial contracts in many important ways. Federal contracts contain or reference many provisions unique to the government. These provisions include requirements for:

  • Changing the scope of work
  • Terminating contracts
  • Making payments
  • Conducting inspection, testing, and acceptance of delivered goods and services

information obtained from: http://www.sba.gov/content/federal-acquisition-regulations-far