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Federal Contracting · FAR · Professional Certifications

Federal Contracting FAR Terminology Basics

Core Federal Acquisition Regulation vocabulary used across federal government contracting.

About this set

39 basic cards for FAR Federal Contracting. It opens with "What does FFP stand for in federal contracting?" and "What does CPFF stand for?". More Professional Certifications decks are listed below.

39 cards · basic cards · AI-written, checked twice. Edit anything.

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What does FFP stand for in federal contracting?
Show answerFirm Fixed Price
What does CPFF stand for?
Show answerCost Plus Fixed Fee
What does CPIF stand for?
Show answerCost Plus Incentive Fee
What does T&M stand for?
Show answerTime and Materials
What does IDIQ stand for?
Show answerIndefinite Delivery, Indefinite Quantity
What does FAR stand for?
Show answerFederal Acquisition Regulation
What does COR stand for?
Show answerContracting Officer's Representative
What is the GSA Schedule?
Show answerGeneral Services Administration Multiple Award Schedule
What does CLIN stand for?
Show answerContract Line Item Number
What does PWS stand for?
Show answerPerformance Work Statement
What does SOW stand for?
Show answerStatement of Work
What does RFP stand for?
Show answerRequest for Proposal
What does RFQ stand for?
Show answerRequest for Quotation
What does IFB stand for?
Show answerInvitation for Bid
What does COTS stand for?
Show answerCommercial Off The Shelf

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