WEBVTT 00:09.479 --> 00:12.609 Types of awards . What is an award ? An 00:12.619 --> 00:14.869 award is an all encompassing term that 00:14.880 --> 00:16.989 covers contracts , basic ordering 00:17.000 --> 00:18.870 agreements and purchase orders . 00:20.559 --> 00:22.860 Simplified acquisition threshold . A 00:22.879 --> 00:25.101 simplified acquisition threshold is the 00:25.101 --> 00:27.157 maximum dollar amount allowed for an 00:27.157 --> 00:28.879 acquisition using simplified 00:28.889 --> 00:32.419 acquisition procedures . Types of 00:32.430 --> 00:34.880 awards , the three most common types of 00:34.889 --> 00:37.270 awards are contracts , basic ordering 00:37.279 --> 00:41.130 agreements and purchase orders award 00:41.139 --> 00:43.450 usage . Each award type is used for 00:43.459 --> 00:45.909 different circumstances . A contract is 00:45.919 --> 00:47.975 used when the acquisition is greater 00:47.975 --> 00:49.752 than the simplified acquisition 00:49.752 --> 00:51.919 threshold . A basic ordering agreement 00:51.919 --> 00:53.975 is used to expedite contracting when 00:53.975 --> 00:56.360 specific items , quantities and prices 00:56.369 --> 00:58.536 are not known at the time agreement is 00:58.536 --> 01:01.090 executed . A purchase order is used for 01:01.099 --> 01:02.880 purchases below the simplified 01:02.889 --> 01:04.111 acquisition threshold 01:06.050 --> 01:08.660 contracts . A contract is a mutually 01:08.669 --> 01:10.891 binding legal relationship , obligating 01:10.891 --> 01:13.002 the seller to furnish the supplies or 01:13.002 --> 01:15.280 services and the buyer to pay for them . 01:15.410 --> 01:17.577 There are various types of contracts . 01:17.577 --> 01:19.799 One of the most commonly used is a long 01:19.799 --> 01:22.669 term contract . An LTC is a contract 01:22.680 --> 01:24.791 that sets terms and conditions for an 01:24.791 --> 01:27.239 extended period . An LTC includes set 01:27.250 --> 01:28.972 of requirements defined by the 01:28.972 --> 01:32.589 government has a specific time frame 01:35.919 --> 01:37.180 and or dollar value 01:40.580 --> 01:42.519 uses a delivery order to procure 01:42.529 --> 01:44.040 materials or services . 01:46.260 --> 01:48.430 Basic order agreements also known as 01:48.440 --> 01:52.099 Bolas . What is a boa abo A is the 01:52.110 --> 01:53.943 negotiated understanding written 01:53.943 --> 01:56.166 between the government and vendors . It 01:56.166 --> 01:58.370 is not a contract . Boas assist in 01:58.379 --> 02:00.490 reducing the administrative time that 02:00.490 --> 02:02.379 is required to receive an award . 02:02.419 --> 02:05.519 Elements of a boa abo A includes terms 02:05.529 --> 02:07.807 and clauses to be used during its term . 02:07.839 --> 02:09.895 It may have a description indicating 02:09.895 --> 02:12.089 supplies and services to be provided 02:12.100 --> 02:14.419 and uses a delivery order or calls to 02:14.429 --> 02:16.979 procure materials or services . O A 02:17.000 --> 02:19.750 limitations as a reminder , Ebola is 02:19.759 --> 02:22.119 not a contract . It will not obligate 02:22.130 --> 02:25.550 funds or delivery dates . Purchase 02:25.559 --> 02:28.160 orders . The purchase order is an award 02:28.169 --> 02:30.113 slash offer by the government to a 02:30.113 --> 02:32.330 vendor to procure material or services 02:32.339 --> 02:34.649 upon specific terms and conditions . 02:34.800 --> 02:37.078 There are two types of purchase orders , 02:37.078 --> 02:39.649 unilateral and bilateral . A unilateral 02:39.660 --> 02:41.493 purchase order is defined by the 02:41.493 --> 02:43.771 following an offer from the government . 02:44.009 --> 02:46.630 A government signature is required , it 02:46.639 --> 02:48.750 does not require a vendor signature . 02:48.929 --> 02:51.110 The government is the obligated party 02:51.289 --> 02:53.511 and the government can only withdraw if 02:53.511 --> 02:55.622 contract delivery date passes and the 02:55.622 --> 02:57.733 vendor has not met the required terms 02:57.740 --> 03:00.449 of the order . A bilateral purchase 03:00.460 --> 03:03.020 order is defined by the following . It 03:03.029 --> 03:05.410 is a binding award . The vendor and 03:05.419 --> 03:08.369 government signature are required and 03:08.380 --> 03:10.491 the signature represents both parties 03:10.491 --> 03:12.713 have accepted the obligation to perform 03:13.770 --> 03:16.039 a unilateral order becomes bilateral . 03:16.050 --> 03:18.272 When a vendor does one of the following 03:18.272 --> 03:20.940 actions accepts it in writing a 03:20.949 --> 03:23.830 bilateral modification is executed . Ie 03:23.839 --> 03:25.506 government and vendors sign a 03:25.506 --> 03:28.690 modification when the vendor delivers 03:28.699 --> 03:31.009 performs or exhibits an intention to 03:31.020 --> 03:34.899 perform . References below 03:34.910 --> 03:36.940 are references used in this video . 03:37.100 --> 03:38.933 They will be linked in the video 03:38.933 --> 03:42.869 description , bar acquisition.gov dau 03:45.570 --> 03:47.710 visit the vendor information hub for 03:47.720 --> 03:49.831 additional resources and assistance . 03:49.831 --> 03:52.050 You're clear for takeoff . Thank you 03:52.059 --> 03:54.940 for watching . This is the VIH control 03:54.949 --> 03:56.149 tower signing off .