What is IFF in contracts?
The dollar value of a sale is the price paid by the Schedule user for products and services on a Schedule task or delivery order. The reported contract sales value shall include the Industrial Funding Fee (IFF).
How is GSA IFF calculated?
How is the IFF calculated? 0.0075 = 0.9925) then divide the unit price by 0.9925 to establish the contract price. e.g., a price of $198.50 / 0.9925 = $200. If the contractor makes a sale at $200, the IFF will be $1.50.
How do I pay IFF fee?
How do I remit my IFF payment? Currently, you are required to submit your sales report and remit your IFF Payment online through the VA Sales Reporting System. There are no additional fees or charges associated with this system.
How much is the GSA IFF fee?
0.75 percent
What is the Industrial Funding Fee? It is the charge that GSA applies for the administration of GSA Schedule contracts. Currently, the IFF is 0.75 percent.
How do I submit a GSA modification?
When initiated by the contractor, modification requests must be submitted electronically using eMod by your company’s Contracting Administrator, often referred to as the Point of Contact (POC). For information specific to your Schedule, please visit the Vendor Support Page, “Modification Options”.
What is GSA TDR?
Multiple Award Schedule Transactional Data Reporting (TDR) is a pilot program that creates a more effective, less burdensome alternative to legacy pricing disclosure requirements.
What is GSA IFF remittance?
GSA IFF – What is the GSA Industrial Funding Fee The IFF is a fee GSA charges agencies for using the GSA schedule contracts in order to pay for GSA’s contract management costs. Currently, this fee is equal to 0.75%. GSA has vendors tack this fee onto their approved GSA discounted price.
What is a GSA modification?
A modification is required whenever a change is made to your Schedule contract. Most frequently, changes are made to products and/or services, prices, or terms and conditions.
What is a Schedule 70?
IT Schedule 70 is a long-term contract issued by the U.S. General Services Administration (GSA) to a commercial technology vendor. Award of a Schedule contract signifies that the GSA has determined that the vendor’s pricing is fair and reasonable and the vendor is in compliance with all applicable laws and regulations.
What is TDR reporting?
The Transactional Data Reporting rule is an amendment to the General Services Acquisition Regulation (GSAR) that is intended to enhance the ability of the government to make smarter purchasing decisions through the sharing of information.
What is TDR data?
Transactional Data Reporting (TDR) is a GSA Schedule pilot program that was first announced in March 2015. In 2016, it was incorporated into the General Services Administration Acquisition Regulation (GSAR) per GSAR 538.270-2, and then rolled out in full or in part, to 8 Schedules.
What is a GSA MAS contract?
The GSA Schedule, also known as Federal Supply Schedule, and Multiple Award Schedule (MAS), is a long-term governmentwide contract with commercial companies that provide access to millions of commercial products and services at fair and reasonable prices to the government.
What is a mas schedule?
GSA Multiple Award Schedules (MAS) are long-term governmentwide, indefinite delivery, indefinite quantity (IDIQ) contracts that provide federal, state, and local government buyers commercial products and services at volume discount pricing.
What is TDR for GSA?
The TDR final rule was established by GSA on June 23, 2016, and requires participating vendors to report transaction data from orders placed against GSA’s Federal Supply Schedule (FSS) program.
When are sales reports and IFF payments due?
Sales reports and IFF payments are due immediately following the completion of each quarter of the Government fiscal year. Any partial month is to be considered as one (1) month for reporting purposes.
How does IFF help its customers?
This is accomplished by providing IFF’s customers with products that allow for extended shelf life and stability, which help to improve customers’ products and performance. The business unit’s enzyme solution also allows IFF’s customers to provide low sugar, high fiber and lactose-free dairy products.
When do contract sales have to be reported to FAS?
(2) Contract sales shall be reported to Federal Acquisition Services (FAS) within 30 calendar days following the completion of each reporting quarter. The Contractor shall continue to furnish quarterly reports, including “zero” sales, through physical completion of the last outstanding task order or delivery order of the contract.
How do I submit my IFF payment?
Vendors may submit their IFF payment through the VA Sales Reporting System. $0 sales for reporting period: You must still log into the sales portal and enter $0.