Music, hello and welcome to the wonderful world of government contracting. I'm your host, Nancy. Today, we're going to talk about the simplified acquisition procedures and the simplified acquisition threshold. But before we get started, please do me a favor and hit that subscribe button. Thumbs up or thumbs down, no vacation bells, so you're notified when new episodes are released. And that's it. So let's get started, shall we? Let's talk about these simplified acquisition procedures. As you're developing your business strategy to go into government contracting, it's best to consider every entry point in federal contracting that you can easily obtain. Why? I believe that it's better to target specific dollar ranges when seeking your first contract. The simplified acquisition procedures, otherwise known as SAP for short, is the simplest way to bid a government contract. SAP thresholds range from three thousand to two hundred and fifty thousand. So that's kind of a wide range. Since this threshold is set aside strictly for small businesses, it's easier for companies to win their first contract by bidding within this range. So, what are simplified acquisition procedures? Simplified acquisition procedures are contracting methods to streamline the purchasing process for obtaining goods and services. And they're trying to make it even simpler. The SAP procedures result in less paperwork and lower costs for the government and ultimately the small business. Therefore, it is a great win-win for all parties. It is essential that you consider the simplified acquisition procedure as one of your business strategies for entering into government contracting. That's something else I want to talk about. Everybody wants to go after these larger contracts of five hundred thousand to a million or more and then wonder why they can't seem to penetrate the market. And one of the reasons is past...
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Far thresholds matrix Form: What You Should Know
FAR 3.1005(b)(6) (see the instructions for the matrix for instructions); The acquisition related threshold inflation index, as reported in the Internet matrix, is available via the FAR 3.1005(b)(9) (see the instructions for the matrix for instructions); (2) The type of acquisition (federal administrative or military, in accordance with paragraph (g) of this section), and (3) the fiscal year for which the acquisition is being made. (j) The matrix under FAR 3.101 is not revised for future years due to the enactment of section 12104 of the National Defense Authorization Act for Fiscal Year 2024 ; however, the fiscal years are revised retroactively for Fiscal Year 2024 and forward to fiscal year 2020. (k) (1) The requirements and limitations under 42 USC app. 1135(d) apply to acquisition plans which are subject to FAR 12.101. Matrix of minimum threshold inflation adjustments at FAR 12.101 is revised retroactively to the earliest of December 31 of the first year in which that matrix is in effect and the beginning of the current year. (d) In addition to required acquisition-related reporting under FAR 12.103, the acquisition-related threshold inflation index for each acquisition activity is adjusted upward for each fiscal year. (a) The annual inflation index increases in step with the number of acquisitions, not for acquisitions with a value of 200,000 or more. The index is adjusted by the average growth rate of the CPI. (b) The minimum threshold inflation adjustment for fiscal year 2024 is calculated using the following formula: (1) Number of Subcontracts to Total Subcontracts; Number of Subcontracts to Total Subcontracts, for Subcontracts Under 2,000,000 (FAR 2.107.1(f)(2)(i); see FAR 2.107.1(f)(2)(ii)). Amount in millions of dollars except percentages: Fiscal year (Fiscal year) 2 2 2 2 2 150 150 150 150 150 150 150 150 150 150 149 This change in threshold inflation index is effective for fiscal year 2024 and forward; therefore, only information for fiscal year 2024 and forward becomes effective for future years.
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