What is Public law 95 507?
What is Public law 95 507?
Public Law 95-507 which amended Section 8(d) of the Small Business Act of 1958 created the Small Business Administration as it is known today. The law changed the way Federal contracts are planned and implemented with a focus on including small businesses that are economically and socially disadvantaged.
What is a subcontracting plan?
A Subcontracting Plan is a document setting forth how a contractor will provide SB, SDB, WOSB, VOSB, SD/VOSB, and HUBZone SB concerns with the maximum practicable opportunity to participate in the performance of a contract or subcontract.
What is ISR and SSR?
The Prime or higher-tier subcontractors will review their subcontractors’ Individual Subcontracting Reports (ISRs), and the government will review the Prime’s ISR and all of the Summary Subcontracting Reports (SSR).
What is the threshold for small business subcontracting plan?
$750,000
Federal law requires a subcontracting plan if the value of contract exceeds a set dollar amount—currently $750,000. This amount is known as the “simplified acquisition threshold.1”
What is an ISR report?
The Individual Subcontracting Report (ISR) is the former SF-294. Large Business Subcontractors are required to submit the ISR to the Large Business whom awarded them the contract within eSRS. The SSR for Commercial Plan is filed by Prime Contractors only with an approved Commercial Subcontracting Plan.
What is a far Convention?
The following conventions provide guidance for interpreting the FAR: (a) Words and terms. Words or terms defined in a specific part, subpart, section, provision, or clause have that meaning when used in that part, subpart, section, provision, or clause. …
What is the dollar threshold for small business?
Every federal government purchase with an anticipated value above the micro-purchase threshold of $3,500, and up to the Simplified Acquisition Threshold (SAT) of $150,000, is required to be automatically and exclusively set-aside for small businesses.
What is the difference between an ISR and SSR?
The SSR is a fiscal year summary of Federal subcontracting activity reported by agency. ISRs are reports documenting subcontracting activity for the life of a contract. Using the ISR in this manner will inflate the data in the SSR.
How do I find prime contractors?
You can use USASpending.gov to connect subcontract awards to prime contracts and identify prime contractors that are awarding subcontracts in your local area. The Small Business Administration’s “Subcontracting Assistance Directory” identifies people you should contact if you have questions about subcontracting.
What is the FAR clause?
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.
