All glossary terms
Federal Procurement & Regulations

Full and Open Competition

Acquisition where all size companies are eligible to bid.

Related terms

National Stock Number
A 13-digit number the federal government assigns to a specific, recurringly procured supply item so it can be uniquely identified and reordered across the supply chain.
North American Industry Classification System
Numbering system classifying work for federal solicitations.
Organizational Conflict of Interest
Exists when a contractor's relationships could bias ground rules or impair objectivity.
Product Service Code
A four-character code identifying what a contract actually buys (a product, service, or R&D effort), distinct from NAICS, which classifies the vendor's industry.
Protest
Formal challenge to an agency's procurement or award decision. Filed at GAO or Court of Federal Claims.
Representations and Certifications
Required Section K of the RFP verifying company status. Updated annually in SAM.
Source Evaluation Board
Government panel that reviews proposals and recommends award.
System for Award Management
Government registration portal for federal contractors. Required for all awards.