This is very important to be documented in order not to miss the opportunities in the federal contracting world. This way, you are guaranteed that all the processes being done are legal and you will also be up to date with the events. In this blog, I am going to talk about what type of documentation is generally required for federal contracting and why it is required.
What is Federal Contracting?
Federal contracting is the act of the federal government buying goods and/or services from a contractor. If the federal government requires something, they will go to the federal contractors to have it done. It can be any sector, from construction, to paper mills, or even a hair salon.
One has to first register their company as a federal contractor in SAM (System for Award Management) which is a registry of federal contracting dollars, where they are spent, whom they are spent on and for what purpose.
Documentation with SAM and CAGE
If you want to make changes to your business name or physical address with SAM, then additional information may be required. In order to make this change you will need to submit the proper documentation. SAM has a list of its acceptable documentation, and something like a bank statement, EIN documentation, or utility bill is usually enough. Additional documentation or information may also be required by CAGE. It is important to read the emails carefully in order to know what documentation is required and sent in response.
Why Documentation is Important in Federal Contracting
You will have to make sure that your SAM Registration numbers are easily retrievable. If you are looking for contracting opportunities or grant awards, you need to have your SAM numbers with you. Applications and prime contractors will request for your UEI and CAGE to confirm that you are in SAM. If you are not, you will not be permitted to engage in the contracting opportunity you are trying to get.
In the event of an audit, it is advisable to have the correct documentation.
