A performance bond guarantees the contractor will complete the contract according to its terms; a payment bond guarantees that subcontractors, laborers and suppliers will be paid. On federal construction above the Miller Act threshold both are required before work begins.
The Miller Act is the federal statute, 40 U.S.C. 3131 to 3134, that requires performance and payment bonds on federal construction contracts above a dollar threshold and gives unpaid subcontractors and suppliers the right to sue on the payment bond.
A teaming agreement is a contract between two or more firms to pursue a specific government opportunity together, usually as prime and subcontractor, setting out roles, workshare, exclusivity and what happens after award.
Limitations on subcontracting are the rules that require a small business awarded a set-aside or sole source contract to perform a minimum share of the work itself (or with similarly situated small subcontractors) rather than passing it through to others.
A prime contractor is the firm that holds the contract directly with the government, is responsible for all performance, and may hire subcontractors to do part of the work.
A subcontractor is a firm that performs part of a government contract under an agreement with the prime contractor (or with a higher-tier sub) rather than with the government itself.
A subcontractor in government contracting is a firm that performs work for a prime contractor, which holds the direct contract with the government....
Nadia is right about identifying mandatory flow-down clauses, and you need to look at the FAR for federal contracts; state and local contracts will...
A performance bond guarantees to the owner that the contractor will complete the project according to the contract terms and conditions. The school...
My company, a landscaping firm, has only ever done fixed-price contracts for city parks and school grounds. We just got a call from a prime...
My company mostly does janitorial and facilities work for county and school district contracts. We get a mix of firm-fixed-price and...
My firm, an SDVOSB, recently won a federal set-aside for court reporting services, NAICS 561492. We have the court reporters, but this particular...
CMMC Level 2 incorporates the 110 security requirements of NIST SP 800-171 Revision 2. CMMC Level 2 builds on NIST 800-171 by adding assessment and...
Yes, your company can get work on these task orders as a subcontractor to an IDIQ holder. An Indefinite Delivery, Indefinite Quantity (IDIQ) contract...
A teaming request post on govcon.forum should state the role you are looking for, the relevant NAICS code, your company's certifications, the general...