GSA Contract Extension

GSA awards a contract for 5 years.  You then have three options to renew the contract for another 5 years each time, totaling to 20 years. GSA contract renewal does not happen automatically. While the contract renewal is not as extensive as the new contract application, the requirements are significant. We will help you to seamlessly go through the all steps of the contract extension process.

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    FAQ

    GSA contracts are initially awarded for a five-year term. They can be renewed up to three times, with each renewal extending the contract by an additional five years. 

    This means the total possible duration of a GSA contract can reach up to 20 years, provided that renewal conditions are met at each five-year interval. 

    Utilizing GSA contract renewal services can simplify this renewal process by ensuring all necessary requirements and compliance checks are fulfilled. These services assist in managing the documentation, facilitating communication with GSA contracting officers, and maintaining the contract’s active status throughout its potential 20-year duration.

    To renew your GSA schedule contract successfully, you need to fulfill specific criteria. One key requirement is achieving a minimum gross annual sales threshold of $25,000. 

    Additionally, maintaining good standing with the GSA is essential. Being proactive when renewing your GSA contract is crucial to avoid the expiration of your current 5-year option period. If this period lapses without renewal, your existing schedule will be canceled, and you’ll need to secure a new contract. 

    Timely renewal requires submitting the necessary documentation and demonstrating continued compliance with GSA’s standards. Completing your GSA contract extension ensures your contracts validity for the next five years, supporting long-term business stability with the federal government.

    According to Paragraph 17.204(e) of the Federal Acquisition Regulation (FAR), the maximum duration for a GSA contract, including any extensions, is 20 years. This timeframe encompasses the initial 5-year period plus three additional 5-year option periods that can be activated for both services and products. To successfully get a GSA contract extension, it’s essential to meet the renewal criteria at each stage, ensuring continuous compliance and performance under the terms of the GSA. Each 5-year extension requires careful preparation and timely submission of the necessary documentation to continue the contract without interruption.

    A multiple year contract, often used within the context of federal procurement, is a contract type authorized by Congress for specific programs, typically covering the procurement of supplies or services. 

    The duration of such contracts can range from one to five years, depending on the specific authorization and requirements of the program. These contracts allow government agencies to commit to a certain expenditure over a multi-year period without requiring annual appropriations.

    In the realm of GSA schedules, understanding the intricacies of multiple year contracts is crucial, especially when considering extensions or renewals. Businesses can benefit from GSA contract renewal consulting to navigate the complexities of renewing or extending these contracts. Consulting services provide expert guidance on how to manage contract terms effectively over the potential multi-year span, ensuring compliance with federal regulations and maximizing contract performance.

    An option year contract is designed to provide the government with a flexible procurement method. Initially, the contract establishes a firm delivery period. Following this, the government has the option to extend the contract for additional fixed terms, each with a specified duration. This flexibility allows federal agencies to maintain continuity in services or supply provision without committing upfront to the full potential term of the contract.

    In the context of GSA schedules, understanding the dynamics of option year contracts is crucial, especially when considering potential GSA contract extensions. Each option year typically requires a separate activation, which may involve additional negotiations and compliance checks. This is where GSA contract renewal expertise can be particularly valuable, helping vendors navigate the complexities of contract management, ensure continuity of service, and align their offerings with government needs effectively. Through strategic planning and management, vendors can make informed decisions about when and how to exercise these options to their advantage.

    Testimonials

    Price Reporter team has been efficient at managing our GSA contract catalogs for the past 5 years. They keep our catalogs well maintained and compliant, saving our resources and letting us focusing on making sales.

    Adorama
    Testimonials

    The B. David Company enlisted the services of Price Reporter, Inc. to setup our DOD EMALL account. We are a second generation family owned company and were uncertain what would be required to complete this task. I fully recommend Price Reporter, Inc. to any company that is looking for assistance with their Government business endeavors. They were and have continued to be extremely helpful. We will continue to rely on Price Reporter, Inc. for future projects.

    Steven Ribnick, Sales & Operations Analyst, B. David Company, Inc.
    Testimonials

    Price Reporter recently helped us with our 3rd GSA contract, the 2nd they did with us. It was the fastest we’ve ever been through the process with GSA. Each step was easy because the ground work was done before we were asked to do anything. Our pricing verification phase went smooth and quickly and both our contracts were accepted without rejection, with minimal negotiations with contracting.

    George McCullough, Director of Sales and Business Development, Darley
    Testimonials

    We first learned about the DOD EMALL a couple years ago from Price Reporter. We decided to move forward on it in 2016. I would recommend them based on the following items:

    • They split the payment. Half upfront and the other half is only charged should DOD EMALL contract be awarded to you.
    • Adding Price Reporter, specifically Andrey Karpov and Igor London, as agents on our GSA schedule streamlined the process. They were able to communicate with our GSA Contracting Officer to ensure that we received what we needed for DOD EMALL from GSA. This saved time on my end and sped up the process.
    • They provide a list of everything you need. Andrey and the rest of his team are meticulous and understand the process on how to get a DOD EMALL contract and thus we benefited from their expertise.

    These are a few of the reasons why I would recommend Price Reporter, Inc. Thank you!

    Karl Prince, Finance Director, AES Systems, Inc.
    Testimonials

    Since 2009, Price Reporter has provided Fisher Scientific timely competitive item level GSA pricing data allowing us to identify opportunities and threats. Their customer service focus is solid.

    Tim Evans, Government Segment Marketing Manager, NA, Fisher Scientific
    Testimonials

    Price Reporter are helping make my life much easier and helping me feel so much better about our GSA contract. Thanks!!!

    Kristen Briggs, President, General Mailing & Shipping Systems, Inc.
    Testimonials

    For the past 10 years, Price Reporter has been providing us with exceptional service for the maintaining of our GSA office supplies contract. They have updated our files on a very timely basis. They have provided modifications when required. For a number of years, they had been giving us a price algorithm where each of our items were priced more than our cost and a penny below the next competitor. A very unique position that gave us thousands of government orders – that was prior to the GSA FSSI BPA.
    And for all the service given, their cost was far less than any other consulting firm that we had contacted or worked with over the years.
    I would highly recommend their service to any small business that is either interested in getting into the federal government arena or who wants to have their contract maintained at a most highly professional level.
    Thank you for supporting a VETERAN OWNED SMALL BUSINESS.

    Bill Finch, Northeast Office Supply
    Testimonials

    We looked around for a reputable company to help us acquire a GSA contract for Muzeek World Intl., Inc. After looking around we were unsuccessful in finding a good company. By chance, one of our colleagues recommended Price Reporter, Inc., so we called them up. I highly recommend Price Reporter to anyone looking for help in acquiring a GSA contract or any Government business dealings. They have the expertise and the know-how to get the work completed.

    Arash Sardarizadeh, Chief Operating Officer, Muzeek World Intl., Inc.
    Testimonials

    We have used Price Reporter for various services over the past 5 years and have been very happy with the services they have provided and continue to provide for us. They work hard to help you get the most from your GSA Schedule and are able to adapt and customize to what your particular needs are. I highly recommend their services to others with GSA Schedules as they help you maximize your sales

    Jaime Mautz, PacificInk
    Testimonials

    We are extremely grateful for all your help in guiding us through the whole process, as this was all new to us. Without the help of you and the rest of the team at Price Reporter, it would have been impossible to achieve our approval – or at the very least – it would have taken a very long time. I would not hesitate to highly recommend Price Reporter, Inc. to anyone needing assistance in government contracts. Your knowledge and assistance was invaluable and very much appreciated, and we look forward to a continued excellent relationship.

    Lee Middleton, CEO, Point Two Air Vests USA, LLC
    Testimonials

    Without Price Reporter contacting me at the right time, GSA would probably cancel my contract already. The CO said that she contacted us back in November of 2016, but got no response. Then Price Reporter called me and helped me with all the things needed and I followed his advise. That’s how we found out that our contract will be terminated soon, but had enough time to take the corrective action. The CO called us recently and it looks like they will extend our contract life. Thanks so much for your timely follow up – Price Reporter gave our Government sales a new hope!

    Jennifer Truong, President, SF Cable, Inc.
    Testimonials

    My company STEC-STEADFAST TECHNICS have worked with 2 IT companies before we linked up with PRICE REPORTER ,INC over 5 years ago. Ever since our relationship with the company, there is no reason to stop working with them.
    The company is staffed with experienced and high Tech professionals who meet our needs adequately.

    Olufadeji Amele, Owner
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    GSA Contract Renewal

    Navigating the complexities of GSA contract renewal can be daunting for many businesses. For those unfamiliar, the GSA (General Services Administration) schedule is a long-term government-wide contract with commercial firms that provide access to millions of commercial products and services at fair and reasonable prices.

    GSA awards a contract for 5 years. You then have three options to renew the contract for another 5 years each time, totaling to 20 years. These contracts require renewal to maintain their validity and continue doing business with government agencies.

    Our GSA Contract Renewal Services

    At Price Reporter, we specialize in guiding companies through the process of GSA contract renewal. Our services are designed to streamline the renewal process, ensuring that you meet all necessary requirements without the hassle and stress. With our expert team, you can rest assured that your GSA contract extensions will be handled efficiently, allowing you to focus on your core business operations.

    As a part of our ongoing process, we will:
    • Evaluate your GSA contract readiness for extension.
    • Perform a compliance check for your catalog.
    • Prepare and submit online all required renewal documents.
    • Communicate with the GSA contracting officer on your behalf.

    We understand the importance of maintaining your GSA schedule contract, as it opens doors to substantial business opportunities with federal agencies. Our dedicated consultants work diligently to keep your contract compliant and up-to-date, ensuring that your firm is well-prepared for the renewal process.

    Get GSA Contract Extension Help

    As a contractor, you should receive an email notification from the GSA regarding the option to extend your contract before its expiration date. It’s important to respond to this notification and inform the GSA of your intention to exercise the option to renew your contract. This proactive communication ensures that the renewal process can proceed smoothly and on time.

    Most Contracting Officers will request several items to ensure everything is current. These typically include an updated Price Proposal Template, an up-to-date Commercial Price List or Market Rate Sheet, and the GSA Advantage! price list. Additionally, if you are not subject to Transactional Data Reporting (TDR), they may ask for invoices to verify the accuracy of your Commercial Sales Practices (CSP) information. Price Reporter will assist to prepare the paperwork, submit it to the GSA and negotiate your renewal.

    Before pursuing GSA option renewal, contractors need to ensure the following:
    • Review and Update: Confirm that all contract information, including pricing, terms, and conditions, is current.
    • Compliance Check: Verify compliance with all GSA requirements and regulations.
    • Sales Requirements: Ensure your company meets the minimum sales requirements.
    • No Violations: Confirm that there have been no violations of GSA policies.

    Renewing your GSA contract is not just about meeting deadlines; it’s about ensuring continued compliance with ever-evolving federal regulations. At Price Reporter, we offer comprehensive GSA contract renewal consulting to help you navigate these changes. Our experts stay informed about the latest requirements and modifications, ensuring that your renewal application is accurate and complete.

    If you’re facing challenges in understanding the renewal requirements or simply don’t have the time to manage the process, our team is here to help. With our GSA contract renewal services, you can be confident that you are in good hands, and your chances of a successful renewal are significantly increased.

    In conclusion, renewing your GSA contract is not an automatic process and it requires attention to detail and adherence to specific guidelines. At Price Reporter, we are committed to helping you navigate this process with ease and confidence. Whether you need comprehensive GSA contract renewal services or specific assistance with certain aspects, we are here to support you. Let us help you renew your GSA schedule contract and continue to thrive in the federal marketplace.