By Holly Powell, Federal Procurement Analyst, NCMBC
Federal government contracting involves terminology not commonly used in commercial contracting; in fact, federal contracting involves terminology that is different from that used in state and local government contracting. To help explain the terms you will encounter as you become active in the federal marketplace, the NCMBC is initiating this new series of articles in our monthly newsletter.
This month’s article addresses:
The numbers that describe your business: PSC, FSC, SIC, NAICS
Future “Learning the Language” articles will address topics such as:
The numbers that you need to know: EIN/TIN, DUNS, CAGE, MPIN, TPIN
Types of small businesses
Types of notices at www.fbo.gov: Sources Sought, Pre-Solicitation, Solicitation, Combined Synopsis/Solicitation, etc.
Types of construction delivery: design/build, design/bid/build, etc.
Note that the DAU Glossary of Defense Acquisition Acronyms and Terms, 12th Edition is a useful tool for looking up the many acronyms you will encounter as you deal with federal contracts. In addition to this reference, you will find links to other military and contracting glossaries and definitions by clicking here.
Our plan for this column is to do more than just spell out acronyms. We will try to put the terms in context and explain why you need to know and understand them.
To help us address terms that matter to you, please email any suggestions for terms or topics to powellh@ncmbc.us, and watch for upcoming columns.
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