FEDERAL CONTRACTOR Meaning and
Definition
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A federal contractor is a term used to describe a private entity or company that enters into a contract with the United States federal government to provide goods, services, or construction projects. These contracts might be related to defense, infrastructure, scientific research, information technology, health care, or a range of other fields.
Federal contractors are subject to unique regulations, requirements, and standards set forth by the federal government. These regulations aim to ensure fairness, transparency, and accountability in the procurement process and protect the interests of the government and taxpayers.
To become a federal contractor, companies often have to go through a competitive bidding process, where they submit proposals outlining their capabilities, expertise, and cost estimates. Contract awards are typically given to the bidder that offers the best value for the money and meets the specified requirements.
Once a company becomes a federal contractor, they must comply with various regulations and guidelines, including those related to equal employment opportunity, labor standards, environmental protection, and the utilization of small businesses and minority-owned enterprises.
Federal contractors have legal obligations to adhere to the terms and conditions of their contracts, such as delivering quality goods and services on time, providing accurate financial reporting, and maintaining a safe workplace.
Overall, federal contractors play a critical role in supporting the government in its efforts to fulfill its responsibilities and deliver services to the public efficiently and effectively.
Common Misspellings for FEDERAL CONTRACTOR
- dederal contractor
- cederal contractor
- vederal contractor
- gederal contractor
- tederal contractor
- rederal contractor
- fwderal contractor
- fsderal contractor
- fdderal contractor
- frderal contractor
- f4deral contractor
- f3deral contractor
- feseral contractor
- fexeral contractor
- feceral contractor
- feferal contractor
- fereral contractor
- feeeral contractor
- fedwral contractor
- fedsral contractor
Etymology of FEDERAL CONTRACTOR
The word "federal contractor" does not have a specific etymology, but rather consists of two separate words: "federal" and "contractor". However, understanding the etymology of each word individually can provide some insight into the overall term:
1. Federal: The term "federal" originated from the Latin word "foederis" (meaning "league" or "covenant") and was later adapted into "foederalis" in Medieval Latin. It ultimately evolved into "federalis" in Late Latin before entering English. It refers to being related to a system of government in which power is divided between a central authority and individual states or regions.
2. Contractor: The word "contractor" comes from the Latin verb "contractus", which means "drawn together" or "tightened". From there, it entered Old French as "contractor" and was adopted into English.
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