Nationwide Cooperative Agreement For Msb Supervision In Middlesex
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Requirements for Companies to Be FAR Compliant The FAR applies to companies with U.S. federal contracts or subcontracts for goods and services (other than commercial off-the-shelf items) to be acquired outside the U.S. with an estimated value of more than $500,000 USD.
FAR only governs contracts with the agencies of the Executive branch. Contracts with the Legislative branch and the judicial branch come under separate regulations. Contracts with the Legislative branch (i.e., Congress) are governed by the Congressional Budget Office (CBO).
The FAR is the set of rules governing the federal government's purchasing process, it is jointly issued by DoD, GSA, and NASA and applies to most agencies in the Executive Branch.
Master Agreements are contracts that are competitively bid by the Department of General Services and available to any agency that expend public funds. These types of agreements establish a prequalified list of vendors and simplify the purchasing process for the end user.
The FGCAA specifically prohibits federal agencies from using Cooperative Agreements to acquire property or services for the direct benefit or use of the federal government. This distinction is what separates Cooperative Agreements from “procurement contracts” or “acquisitions” bound by the FAR.
Strategic alliances are cooperative agreements between potential or actual competitors. The term is often used to embrace a variety of agreements between actual or potential competitors including cross-shareholding deals, licensing arrangements, formal joint ventures, and informal cooperative arrangements.
While the terms “master agreement” and “contract” are sometimes used interchangeably, there are subtle distinctions between the two. A master agreement is a broader agreement that sets the framework for future transactions or engagements between parties.
Merchant Cash Advance contracts are most properly defined as the Purchase and Sale of Future Receivable Agreements. These MCA agreements will generally illustrate the total amount of future receivables purchased by the MCA company.
