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.
The service scope includes
- We will evaluate your GSA contract readiness for extension
- We will perform compliance check for your catalog
- We will prepare and submit all the documents required for renewal
- We will communicate with the GSA contracting officer on your behalf
OUR NUMBERS TELL THE STORY
17+
Years Working
with GSA
with GSA
100+
GSA Contracts
Awarded
Awarded
1000+
Companies
Served
Served
1500+
GSA Contracts
under
Management
under
Management
10K+
GSA Contract
Modifications
Completed
Modifications
Completed
1M+
GSA Orders
Processed
Processed
4.9
Customer
Rating
Rating
Contact Us
Contact us at 201.567.6646 or provide your details below for one hour free consultation
FAQ
How long do GSA contracts last?
GSA contracts are issued for an overall period of 20 years, with three renewal options, at every 5-year increment.
How do I renew my GSA contract?
A vendor has to satisfy the minimum gross annual sales requirement of $25,000, and be in good general standing with the GSA, in order to move on to the subsequent 5-year phase of the contract. One must be careful not to let a 5-year option period expire; otherwise the whole schedule is canceled and a brand new one would have to be obtained.
How long can a government contract be extended?
According to Paragraph 17.204(e) of the Federal Acquisition Regulation (FAR) the maximum duration of a GSA contract is 20 years. This covers the initial 5-year increment, plus the three subsequent 5-year option periods, for services, as well as products.
What is a multiple year contract?
Within the context of congressional authorization for specific programs, a multi-year contract is issued for procurement of supplies or services, and has a duration of anywhere from one to five program years.
What is an option year contract?
The principle behind an option year contract is to establish an initial delivery period, to then give the government an option to extend for a fixed number of terms, with specified duration. This is a convenient, flexible approach that enables the feds to create a stable procurement structure.
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
OUR CLIENTS
Securing a GSA Schedule contract is a serious achievement. Well done! Normally, a contract is active for 5 years, but it would be a mistake to think your job is over for the remainder of that period. You need to maintain your GSA contract to keep it running, and extend it once it expires.
In fact, GSA contract extension may not even happen if your contract is either cancelled or if you fail to meet all the GSA requirements to government contractors.
Among the “must do” things that help keep your GSA contract active, up-to-date and compliant are:
- You must meet the minimum sales criteria. Specifically, if your sales via GSA contracts are less than $25,000 per year, your contract may be cancelled.
- You must report sales and remit the Industrial Funding Fee.
- Remain compliant. Your GSA contract may be cancelled if the products or services you offer become non-compliant to FAR and other regulations.
- Offer competitive and fair pricing.
- Keep certificates and licenses up to date.
EXERCISING THE GSA CONTRACT EXTENSION OPTION
Extension of your GSA contract does not happen magically and automatically. Your assigned GSA contracting officer will review your contract once again, and will see if you’d been able to deliver results and meet the conditions.
Before your extension option is exercised, the following factors are considered:
- Your contract still meets all the required terms and conditions of GSA contracting.
- During your contract period you were able to meet the minimum sales requirement which is $25,000 in sales during the first two years of your contract period, and $25,000 per year in each subsequent year.
- Your company must maintain financial health. You should not have any unpaid debts or overdue payments.
- The pricelist displays fair and reasonable pricing.
In addition, the contracting officer considers the feedback received from Administrative Report Card and during Contractor Assistance Visits.
If all conditions are met, the contract extension option is exercised. And once again we should repeat it: GSA contract extension is NOT automatic.
WHAT YOU NEED TO KNOW ABOUT THE EXTENSION OPTION PROCESS
Normally, a GSA contract is awarded for a 5-year time span. Before this period expires, typically 8 months prior to the expiration date, you will receive an e-mail message with the option to renew your contract. You should respond to this message within 30 days.
Your response to the renewal message should contain a Letter of Intent containing certain information and formatted properly. Once the GSA receives your Letter of Intent, a contracting officer will contact you, or the person you authorized to communicate with the GSA on your behalf. Importantly, such a person must have a valid Digital Certificate to be able to exercise the contract extension option via the eMod platform.
The contracting officer reviews your contract (see above) and probably asks you for any additional supporting documents she needs to confirm your status. This could be TAA compliance documents, or commercial practices, pricelists, price narrative, or whatever else she needs. Get ready for another round of price negotiations as well. Overall, it is in your best interest to be prepared for the GSA contract renewal, beforehand.
GSA CONTRACT RENEWAL CONSULTING
As you see, renewing your GSA contract is not as clear-cut as it might seem at a first glance. Delegating the entire contract extension process to Price Reporter may be a relief, especially if you don’t want to submerge yourself deeply in all the nuances of Federal Acquisition Regulations.
Price Reporter consultants can be of substantial help:
- We can evaluate the current state of your contract and asses its readiness for extension to the next 5-year period
- We check your products and services for compliance
- Our specialists will prepare all the documents required for contract extension, including the Letter of Intent
- We can communicate with the GSA contracting officer on your behalf
Combined together, these and many other services provided by Price Reporter allow you to focus on what’s important and what you can and want to be taking care of: your business.
Renewing your GSA Contract
When GSA awards you a contract, the contract is signed for 5 years. You then have three options to renew the contract for another 5 years, totaling to 20 years. GSA contract renewal does not happen automatically. In fact, when the last year of the 5-year period comes to the end, the GSA will notify you, and offer an opportunity to renew your GSA contract. This is called an option to extend your GSA contract. The extension clause is automatically added to your contract if the contract is renewed as stated in FAR 52.217-9.
When does the GSA Renewal Process Start?
Earlier than you might think. Approximately 8 months before the expiration date of the contract, the GSA sends a message requesting a confirmation that the vendor is willing to extend his or her contract. 30 days are given to reply and send your Letter of Intent (see above).
Importantly, your company must be prepared for the upcoming renewal, in advance. Too many GSA contractors fell victims to their own unawareness, and lost the opportunity to extend their GSA contracts.
GSA CONTRACT RENEWAL PROCESS
After you received your renewal e-mail, the renewal of the GSA contract starts for you. Once again, we remind you that the renewal procedure is NOT automatic.
Now, what are steps of the GSA Contract renewal process?
- GSA sends you an email asking you to confirm your intent to extend the contract.
- You send the Letter of Intent and submit a number of required documents, such as:
- Actual and up-to-date pricelist
- Certificates, licenses
- Latest past performance report
- Documents confirming TAA compliance of your products
- Financial statements
- Commercial practices
- The GSA reviews your submission (this takes 1-4 months) and the contracting officer decides to exercise the contract extension option.
WHEN SHOULD I START MY GSA RENEWAL?
The golden rule of almost any interaction with the GSA is: you should do everything beforehand, reserving yourself enough extra time. The rule also applies to the GSA contract renewal.
Despite the fact that the GSA will inform you about the upcoming end of your contract within 7-8 months of expiration, your company must start the preparations even earlier. Price Reporter recommends to initiate the renewal preparations at least one year prior to the expiration date of your GSA contract. Here is why.
If you begin early, you can address many issues before the GSA even points them out. This results in faster GSA review, and eventually – effortless extension of the GSA contract.
The common issues you should take care of are:
- Poor sales. If you noticed that your GSA sales are lower then the required minimum of $25,000 per year, you will have enough time to intensify your GSA marketing efforts to secure additional sales.
- Contract modifications. Once the renewal process is initiated, you cannot make changes to the contract anymore. So, if you want to adjust something, it is time to do this prior to that.
- Prepare documents. You need a bunch of obligatory documents, so it is a good idea to do your paperwork sooner, when there is no deadline sword of Damocles hanging over you.
- Address the issues. There may be concerns in the Contractor Assessment Report or a feedback from the Contractor Assistance Visits you need to address.
WHY WOULDN’T GSA RENEW MY CONTRACT?
There are a number of reasons for not extending a GSA contract. Normally, if you are a legitimate and responsible contractor, the GSA will have no reasons to not renew the contract. But we recommend doing your homework and checking everything twice.
Don’t be overoptimistic: too many contractors failed to renew their GSA contracts because of their carelessness. And were surprised to know they had problems that prevented renewal.
The GSA often refuses to renew a contract for these reasons:
- Lack of GSA sales. As long as you possess a GSA contract, you must deliver sales. If you do not make the required minimum of $25,000 per year, your contract will not be renewed because you are underperforming as a government contractor.
- Poor financial stability. Your business must look healthy if you want to continue selling to the government.
- Compliance issues. The government cannot procure non-TAA-compliant products. If your company was TAA complaint, and then something has changed and one of your products is no longer compliant, your contract will not be extended.
- Bad reports. Unaddressed Assessment Report Card problems are also a common reason for renewal rejection. Make sure you offer a remedy for every reported issue.
- Complaints. If your company receives too many complaints from agencies, the GSA may decide to cease doing business with you and not renew your GSA contract.
The key to effortless GSA contract extension is to be prepared and address all the existing problems (if any) preliminarily. If you don’t have spare human resources to do this, you can always hire Price Reporter specialists that will guide you through the entire renewal process directly, to the positive outcome.
