CandleFocus Glossary Editor
A Government-Wide Acquisition Contract (GWAC) is a type of pre-competed contract that enables federal agencies to purchase products and services from a variety of vendors without engaging in the traditional procurement process. These contracts are typically managed by the U. S. General Services Administration (GSA), NASA, or the National Institute of Health (NIH). The goal of using a GWAC is to increase efficiency and reduce the cost of procurement within the government. This type of contract is beneficial to both government agencies and vendors as it allows government agencies to access the latest technology and vendors to receive steady business.
First and foremost, GWACs provide expedited access to technology and services while also streamlining the purchasing process. By organizing government purchases into one contract, the government is able to save time and money by avoiding the traditional procurement process which can be long and costly. Additionally, this type of contract provides a list of pre-approved and qualified vendors, making the shopping process simpler and faster. This list of contractors is often updated on a continuous basis to ensure that agencies are able to access the best possible options.
Furthermore, GWACs provide a variety of advantages to the vendors. By using this type of contract, vendors have access to a large number of government buyers in one place. Government contracts often have stable demand for products and services, and using a GWAC ensures that a vendor has steady business from government departments. The government also offers competitive bids to reduce costs for the vendors.
In conclusion, Government-Wide Acquisition Contracts are a popular, practical, and cost efficient way of procuring products and services from vendors, specifically for the purpose of procuring IT services and new technology. By streamlining the purchasing process, GWACs save money, time, and energy while ensuring that government agencies are able to access the latest technologies. Additionally, vendors benefit by having access to the government’s competitive bidding process and steady demand for their products and services.
First and foremost, GWACs provide expedited access to technology and services while also streamlining the purchasing process. By organizing government purchases into one contract, the government is able to save time and money by avoiding the traditional procurement process which can be long and costly. Additionally, this type of contract provides a list of pre-approved and qualified vendors, making the shopping process simpler and faster. This list of contractors is often updated on a continuous basis to ensure that agencies are able to access the best possible options.
Furthermore, GWACs provide a variety of advantages to the vendors. By using this type of contract, vendors have access to a large number of government buyers in one place. Government contracts often have stable demand for products and services, and using a GWAC ensures that a vendor has steady business from government departments. The government also offers competitive bids to reduce costs for the vendors.
In conclusion, Government-Wide Acquisition Contracts are a popular, practical, and cost efficient way of procuring products and services from vendors, specifically for the purpose of procuring IT services and new technology. By streamlining the purchasing process, GWACs save money, time, and energy while ensuring that government agencies are able to access the latest technologies. Additionally, vendors benefit by having access to the government’s competitive bidding process and steady demand for their products and services.