As quoted by Norman Bates in Psycho – “She just goes a little mad sometimes. We all go a little mad sometimes. Haven’t you?” I’m not naming names, but I have worked with many clients who have gone quite mad when working to ensure compliance with their GSA Schedules.
Having just celebrated Halloween, I am reminded of some frightening misconceptions surrounding GSA Schedules. Maintaining compliance with your schedule can be a grueling experience. Let’s not forget that blood-curdling stress as you prepare to meet or talk to your Industrial Operations Analyst (IOA) or that bone-chilling realization that you forgot to pay your Industrial Funding Fee (IFF) on time.
Do you understand GSA’s current terms and conditions? Do you have the knowledge to ensure compliance with your GSA Schedule? Take Centre’s True or False quiz (with answer key below) beginning with our teams most frequently asked questions:
- The Maximum Order Threshold (MOT) established for a GSA Schedule contract serves as a limit on the dollar value of individual task orders placed under that Schedule.
- GSA contractors must accept the Governmentwide purchase card for orders under the micro-purchase threshold ($3,500).
- The 0.75% Industrial Funding Fee (IFF) is already included in the price of items on GSA Advantage!.
- An advantage for sellers under Federal Supply Schedule (FSS) orders is that the Government has no audit rights.
- Participating Dealers on a Schedule contract may bill the government directly on behalf of the Schedule holder.
- A digital certificate is required to report sales and pay the Industrial Funding Fee (IFF) in the new Transactional Data Reporting (TDR) FAS Sales Reporting System.
- GSA/VA Schedule Price Lists submitted via the Schedules Input Program (SIP) are automatically posted to GSA Advantage.
- Multiple modification actions such as economic price adjustments and deletion mods can be combined in one modification and submitted via the eMod system.
- Only authorized negotiators with signature authority and digital certificates are permitted to submit certain modifications and sign modifications in the eMod system.
- Digital certificates automatically renew every two years.
Not maintaining compliance with the terms and conditions of your GSA Schedule can cost your company money, time and unwanted stress. If you’re feeling GSA stress or just want to learn more about GSA Schedules, consider attending our GSA Boot Camp on November 14 and 15 at Centre’s office located in Tysons, VA. See our website for details.
ANSWER KEY: 1) False 2) True 3) True 4) False 5) True 6) True 7) False 8) False 9) True 10) False
The post Do You See a Link Between Maintaining Your GSA Schedule and the Movie Psycho? appeared first on Centre Law & Consulting.