Investments glossary

Government-Wide Acquisition Contract (GWAC)

A government-wide acquisition contract (GWAC) is a contract in which multiple government agencies align their needs and purchase a contract for goods or services. Government-wide acquisition contracts allow for economies of scale, which usually reduce per unit costs. These contracts are typically used to purchase new technology, such as computers. With a GWAC, the federal government can get innovative solutions for information technology systems at an improved cost to taxpayers footing the bill. This type of contract may be spearheaded by one particular agency with the expectation that more agencies will follow suit.

Click to rate this post!
[Total: 0 Average: 0]

Leave a Reply

Your email address will not be published. Required fields are marked *