Federal and GSA Definitions - Updates

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.

Categories: GSA Contract

Josh Ladick

Josh Ladick is the President of GSA Focus, Inc., and has been immersed in GSA Contracts and Government Contracting since 2006. I explain the complex GSA and FAR clauses in simple terms that anyone can understand, as well as keep government contractors informed on a broad group of GSA Contract related topics. Schedule a time to talk to Joshabout getting a GSA Contract today!

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