Government Contracting Glossary
155 terms and definitions to help you understand federal procurement terminology.
FF8 terms
FAR(Federal Acquisition Regulation)
The Federal Acquisition Regulation is the primary set of rules governing federal government procurement.
Official sourceFedRAMP(Federal Risk and Authorization Management Program)
Federal Risk and Authorization Management Program standardizes cloud security assessment for government use.
Official sourceFFP(Firm Fixed Price)
Firm Fixed Price - contract where price doesn't change regardless of costs.
Official sourceFinal Proposal Revision
Updated proposal submitted after discussions providing offeror's final offer for evaluation.
Official sourceFinal Rate
Audited indirect cost rate based on actual costs incurred.
FISMA(Federal Information Security Modernization Act)
Federal Information Security Modernization Act requires agencies to secure federal information systems.
Official sourceForward Pricing Rate
Agreed-upon indirect cost rates used for estimating costs on proposals and contracts.
Official sourceFunded Value
Amount of money actually obligated and available to spend.
