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Your contract will detail the payment terms, and each contract will vary, but it's not unusual for a contract to pay some percentage as an upfront fee, followed by monthly payments, with the remainder of the balance upon completion.
There are exactly two ways to make money in the Federal Government contracting industry. First, you can either directly support the government on a prime contract. Second, and easiest government contract to win, you can have a subcontract under the prime contract holder.
Getting a government contract can be complex. To prepare, invest time up front to research the competition and understand the processes and strategies used to compete in the federal market. This will help you determine if a government contract is a good fit for your business.
Register with SAM To participate in government contracting, you must register your business in the federal government's System for Award Management (SAM) . SAM is a database that government agencies search to find contractors.
The easiest federal government contracts to win are often larger contract vehicles, such as GSA Schedule contracts. The GSA Advantage program is effectively an online marketplace, offering the federal government and other registered buyers access to millions of products and services from GSA-registered contractors.