(1) The document describing the proposed transaction, for example.B. purchase/sale contract or letter of intent. The “innovation package” is usually submitted to a single administrative contractor (“ACO”) who coordinates the innovation process on behalf of all interested federal authorities. This one-stop shop eases the burden on the contractor to pass on documents to several agencies and allows the government to speak with one voice. For several overlays, the FAR provides for a slightly different process. If a CAO has been awarded to one of the contracts, the “innovation package” should be submitted to the ACO, which manages the highest unbalanced dollar balance. FAR 42.1202 (c) (1). If the ACO has not been awarded to one of the contracts, the “innovation package” should be presented to the OC with the largest unbalanced dollar balance. FAR 42.1202 (c) (2). Ultimately, a contractor`s obligations to innovate depend on the form of merger/acquisition chosen by the parties. While this selection is naturally supported by many factors, potential innovation commitments should be part of it. (4) Nothing in the contract exempts the assignor or the taker from complying with the provisions of federal law. If you change your name as a contractor or transfer your assets to another entity, the far-novations law and procedure in which the contract agent is involved is necessary.
For more information on Bidding on GSA One Acquisition Solution for Integrated Services (OASIS Contracts) FAR 42.1204, Novation and Change-of-Name Agreements explains the process and requirements that drive the federal government to recognize a name change or successor in the interest of a federal government contract (Novation). See the difference between the award of the contract vs. Experience shows that companies that associate their agent at an early stage with the procurement process are rewarded with a faster innovation process. While FAR identify specific elements that should be included in innovation, many contract agents have different practices and preferences when it comes to innovation. Hiring contract agents before presenting the real documents to get an idea of their expectations – or giving you the ability to explain why certain documents are included or not in the package – is usually a smart approach. Once a contractor has identified the need for an innovation agreement, they must develop an “innovation package” for submission to the appropriate contractor (for more information, see below).