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Government Contracting Glossary

Terms, acronyms and definitions to help you understand federal procurement terminology.

8 results

Terms · F

FAR

The Federal Acquisition Regulation is the primary set of rules governing federal government procurement.

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FedRAMP

Federal Risk and Authorization Management Program standardizes cloud security assessment for government use.

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FFP

Firm Fixed Price - contract where price doesn't change regardless of costs.

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Final Proposal Revision

Updated proposal submitted after discussions providing offeror's final offer for evaluation.

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Final Rate

Audited indirect cost rate based on actual costs incurred.

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FISMA

Federal Information Security Modernization Act requires agencies to secure federal information systems.

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Forward Pricing Rate

Agreed-upon indirect cost rates used for estimating costs on proposals and contracts.

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Funded Value

Amount of money actually obligated and available to spend.

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