"FAR Out" OTA's - Other Transaction Authorities - (10/01/2018)
The Federal Government purchases billions of dollar annually. They procure goods and services in a variety of methods including Contract Vehicles, (ie. GSA Schedules, etc.) as well as Set-Asides, Sole Source, Competitive Bid, Simplified Acquisition, Other Transaction Authorities (OTA) and more. OTA's have been in existence for quite some time and are suddenly back in style - used for acquisition of prototypes and also in R&D. With procurement innovation gaining traction in the Trump Administration, OTA's have increased in popularity.
OTA's fall outside the FAR (Federal Acquisition Regulations) and therefore may expedite the purchasing process. The OTA requirements and rules are unique and also carry their own set of risks and rewards. They are agreements; NOT contracts or grants.
Learn more about OTA agreements in our 2 complimentary webinars:
For more information about contract vehicles and selling to the Federal Government, contact us at hello@JenniferSchaus.com