Knowing what and how the government buys is essential if a business owner is to be successful in government contracting. Don't think, however, that you can relax once you receive the good news that you have won a contract. Your work is just beginning. If you cannot perform according to the terms of the contract, the government will not get the product or service it needs and you may find yourself in financial difficulty as well.
The first thing to do is to read the proposed contract carefully before signing it. This may look like an imposing task, as some contracts may contain many pages, depending on the type of contract and complexity of what the government is buying. However, many contract terms and conditions are "boiler plate." Once you read and understand the terms, you will be familiar with them when they appear in your next contract.
One important feature of the contract is the identity of the office that will administer it. In most federal agencies this is usually the same office that awarded the contract. In the Department of Defense, however, the contract is generally assigned to a special administering office. If you have any questions about the contract, contact the office of administration. Do not proceed and find out much later that you are not in compliance.
Information courtesy of the Small Business Administration.
