Federal Acquisition Regulation (FAR): The FAR is a set of rules and regulations that govern the acquisition process for federal agencies. It provides guidelines on how government contracts are awarded, managed, and performed.
Small Business Administration (SBA): The SBA is a U.S. government agency that supports small businesses and entrepreneurs. It provides resources, loans, and assistance to help small businesses compete for government contracts.
Competitive Bidding: Competitive bidding refers to a procurement method where multiple vendors submit proposals or bids for a contract, allowing the government to select the most advantageous offer based on factors like price, quality, and qualifications.