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Federal Supply Schedule A Federal Supply Schedule (FSS) is a contract awarded by agencies of the federal government, of United States territories, and of Indian tribes for the purchase of supplies or the acquisition of services from outside vendors. The General Services Administration (GSA) awards FSS contracts to commercial entities that offer items or services falling within the parameters of a published description of requirements. When this publication is made, firms are free to compete for the awarding of the contracts. It is the function of the GSA to give these contracts to vendors whose prices are fair and competitive. (Normally the rates sought are those that the company would award to its "most favored customers.") By putting these FSS contracts in place, the ordering offices in question can move forward without seeking competitive bids as the system is designed to award contracts to those vendors supplying the best value items and those that most clearly meet the needs of the purchasing entity. More Credit-Card Terms Explained |
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