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Federal Contracting · FAR

Federal Contracting FAR Terminology Basics

Core Federal Acquisition Regulation vocabulary used across federal government contracting.

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

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What does FFP stand for in federal contracting?
Firm Fixed Price
What does CPFF stand for?
Cost Plus Fixed Fee
What does CPIF stand for?
Cost Plus Incentive Fee
What does T&M stand for?
Time and Materials
What does IDIQ stand for?
Indefinite Delivery, Indefinite Quantity
What does FAR stand for?
Federal Acquisition Regulation
What does COR stand for?
Contracting Officer's Representative
What is the GSA Schedule?
General Services Administration Multiple Award Schedule
What does CLIN stand for?
Contract Line Item Number
What does PWS stand for?
Performance Work Statement
What does SOW stand for?
Statement of Work
What does RFP stand for?
Request for Proposal
What does RFQ stand for?
Request for Quotation
What does IFB stand for?
Invitation for Bid
What does COTS stand for?
Commercial Off The Shelf

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