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Maximum Award Price Raised for WOSBs and HUBZone Businesses
Feds update laws for WOSBs and HUBZone contract awards
Source : ContractorNews.com
February 4, 2021
Author : Kristy Casanova
Beginning January 1st, the U.S. federal government raised the maximum award price for federal contracts with Women-Owned Small Businesses (WOSB) and Historically Underutilized Business Zone (HUBZone) firms.
As James Y. Boland and Chelsea B. Knudson of the Law Firm Venable LLP explain within the 2021 National Defense Authorization Act for Section 864 the “Maximum Award Price for Sole Source Manufacturing Contracts, raises the maximum award price for sole source contracts to women-owned small businesses (WOSBs) and Historically Underutilized Business Zone Businesses (HUBZone) to $7,000,000, bringing the figure in line with the threshold for 8(a) and SDVOSB Businesses.
Various other provisions have been made to federal law, changing the legal and regulatory framework that outlines which businesses receive government contracts.
For more see: https://www.lexology.com/library/detail.aspx?g=56b38308-6c70-44d3-a389-ff87c262a946
Category : Historically Underutilized Businesses Women Business Enterprises Federal Government
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