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IDIQ Contract Explained

An IDIQ's primary benefit is that it is usually a more straightforward contract structure than any other. A supplier company may receive less money from a contract than it would have to pay to fulfill the contract, so there is already an obvious business benefit.

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IDIQ Contract Explained

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  1. IDIQ - What Are They? Indefinite Delivery Indefinite Quantity contracts (IDIQ) are forms of contracts in which one party must deliver an indefinite amount of supplies or services over a fixed period. Usually, these contracts don't last longer than five years, but with options to extend the term if necessary.Even though the term "indefinite" is used, reasonable thresholds are still set for contractors. By signing this contract, the government has access to technical expertise in areas such as construction, repairs, electric work, and architectural design for an indefinite period. 1

  2. Benefits of IDIQ An IDIQ's primary benefit is that it is usually a more straightforward contract structure than any other. A supplier company may receive less money from a contract than it would have to pay to fulfill the contract, so there is already an obvious business benefit. Other benefits of IDIQ contracts: • It simplifies the contracting process, reducing the number of small, short-term contracts throughout a project's life to one large multi-year contract. • The companies can provide agencies with a specific list of companies they can work with on short notice. • Generally, they provide less administration and a simplified contracting process. 2

  3. IDIQs simplify the procurement process, which is why federal agencies prefer them. In some cases, agencies have frequent needs for a product or service, but they do not know how much they need or for how long. By eliminating the need for a contract at every step, IDIQs save time. Moreover, IDIQs save money since multiple bidding processes are eliminated. They are therefore valuable to both government agencies and government contractors. If you are interested in obtaining a GSA Schedule, you should take advantage of this position in the federal marketplace. GSA MAS is not only the largest and most active IDIQ contract, but they are also often preferred by government customers. One additional advantage is that contracts can be awarded to one or more companies individually without going through a competitive process as with other forms of contracting. A government agency and the Department of Defense regularly use IDIQ contracts. The process is now being used by many states due to its efficiency and simplicity. 3

  4. Get Connected with GSA magazine official website for more information regarding GSA update and some recent news on GSA Schedule. GSA Magazine is considered as reliable source for the latest GSA contract and other contract like IDIQ Contract. GSA magazine can actually some unparalleled acquisition solutions to meet any federal need. 4

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