Under that program, the Small Business Administration is authorized to enter into all types of contracts with other agencies and let subcontracts for performing those contracts to firms eligible for program participation.ĪCCEPTANCE OF (OFFER / WORK) The act of an authorized representative of the Government by which the Government, for itself or as agent of another, assumes ownership of existing identified supplies tendered or approves specific services rendered as partial or complete performance of the contract.ĪCCEPTANCE TIME A definite period of time that one party to a negotiation has to accept an offer by another party. ![]() You may also find it helpful to use our master list of Acronyms frequently used in DoD contractingĪ B C D E F G H I J K L M N O P Q R S T U V W X-Y-ZĪCCEPTANCE The act of an authorized representative of the government by which the government, for itself or as agent of another, assumes ownership of existing identified supplies tendered, or approves specific services rendered, as partial or complete performance of the contract on the part of the contractor.ĪCCEPTANCE PERIOD The number of calendar days available to the Government for awarding a contract from the date specified in the solicitation for receipt of offers.ĪCQUISITION The process of purchasing goods and services for government activity that includes a detailed establishment of the required materials, method of procurement, solicitation, financing, a selection of sources, contract management and other functions.ĪPPROPRIATION Money from public funds that has been set aside for a specific purpose.ĪWARD Any mechanism signed by a contracting officer providing government funds or other resources to an offeror.Ĩ(a) CONTRACT A contract with the Small Business Administration under a program established by Section 8(a) of the Small Business Act. Familiarity with the language of government contracting is essential for doing business with the Department of Defense (DoD) and working with contracting offices at military bases and DoD agencies. This Glossary provides you with the most frequently used terms in government and military base contracting. ![]() Glossary of Defense Contracting Terms (A)
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