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Federal and GSA Definitions – Updates

Occasionally, we will update our Federal Contracting and GSA Dictionary to include new or missing definitions and Acronyms. Today, the following terms were added: Firm fixed price (FFP), Indefinite Delivery Indefinite Quantity (IDIQ), Multiple Award Schedule (MAS), Federal Supply Schedule (FSS), Task Order, Industrial Funding Fee (IFF), Price Reductions Clause.

These are all very important to know if you live in the world of government contracting. I hope this is helpful, and feel free to comment if you have any suggestions for federal terms or acronyms that I missed.

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