Term Contracts
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Transcript of Term Contracts
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U.S. General Services Administration
Term Contracts
Drand DixonSales Contracting OfficerFederal Acquisition Services
6/12/14
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What is a Term Contract?
Term Contract• A method of sales using sealed bids to solicit and
award a long term purchase agreement between the federal owning agency and a buyer.• Term contracts are created for the sale of federally
owned scrap or waste materials with a substantial accumulating volume over a lengthy period of time.
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Benefits of Term ContractsAnother disposal option for federal agencies.
Agencies don’t have to report property monthly.Recycling program credit to your agency.Optimizes return to the US Government.
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Regulations that govern the sale through Term Contracts
Surplus Property• FMR Part 102-38 - Sale of Personal Property
Term Contract Sales Proceeds• FMR Part 102-38.295 – Holding agency may
retain the balance of proceeds from the sales of its agency’s personal property when -
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Regulations that govern the sale through Term Contracts
Term Contract Sales Proceeds (continued)
• If the property sold was related to waste prevention and recycling programs, under the authority of Section 607 of Public Law 107-67.
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What’s Next
Create the Term Contract Sales:
• Draft the requirements through a Terms and Conditions contract agreement
• Prepare an Invitation For Bid (IFB) form
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Solicitation Documents
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Sealed Bid Requirements
IFB to include a copy of the specifications for the
particular proposed purchase
Instructions for preparation of bids
The conditions of purchase
Delivery and payment schedule
The IFB also designates the date and time of bid opening
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Advertising the Sale
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FAR Subpart 14.2—Solicitation of Bids14.203 Methods of soliciting bids.
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Bid Invitation
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Award Notification
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Award Letter
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Awarded Bidding Required Documents
Completed GSA Standard Form 114
Sale of Government Property – Bid and Award
Certificate of Liability Insurance
Performance Bond Payment
20% of the estimated award value
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Roles and ResponsibilitiesOwning Agency Shall
Identify a key contact and contact infoNotify GSA of any change requirements Approve property to be removedProvide witness for all removalsVerify quantities removed with GSA
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Roles and ResponsibilitiesWinning Bidder Shall
Identify a key contact and contact infoNotify GSA of any change requirements Read and understand the ContractProvide removal tickets for all removalsVerify quantities removed with GSA
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Roles and ResponsibilitiesGSA Contracting Officer Shall
Advise key contacts as neededNotification of any change requirements Manage the Term ContractCollect removal tickets for all removalsSubmit Invoices for payments
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Questions