What is a lower tier subcontractor?
Lower-tiered subcontractor means a subcontractor who has agreed in an oral or written agreement with a higher-tiered contractor to provide work, materials or equipment for a work of improvement.
What is a subcontract under the far?
Subcontract means any contract, as defined in FAR subpart 2.1, entered into by a subcontractor to furnish supplies or services for performance of the prime contract or a subcontract. It includes, but is not limited to, purchase orders, and changes and modifications to purchase orders.
What is a first tier subcontract?
First-tier subcontract means a subcontract awarded directly by the Contractor for the purpose of acquiring supplies or services (including construction) for performance of a prime contract.
What does sub tier mean?
More Definitions of Sub-tier Supplier Sub-tier Supplier means a third party who provides parts, materials and/or components related to Products directly to Supplier.
What is a Tier 2 contractor?
Tier two contractors are still heavy hitters and benefit from some higher or lower tier works. Companies ranked here still tale on more commercial works rather than residential. These can include education, retail or smaller industrial premises.
What are far Flowdowns?
It’s a contract term or condition that is “flowed down” from a prime (direct) contract to a subcontract. Usually, we are concerned with flowdowns that are required by the federal. government. That said, any party in the contracting chain can initiate a flowdown.
What is excessive pass through?
Excessive pass-through charge, with respect to a Contractor or subcontractor that adds no or negligible value to a contract or subcontract, means a charge to the Government by the Contractor or subcontractor that is for indirect costs or profit/fee on work performed by a subcontractor (other than charges for the costs …
What is low tier?
low tier definition, low tier meaning | English dictionary adj. low; cheap, dirty, sluttish (as behavior and/or look) !