What is a GSA contract?
A GSA Schedule Contract (also known as a GSA Schedule or Federal Supply Schedule) is a long term contract for sales to federal government entities under the General Services Administration (GSA)'s Multiple Award Schedule (MAS) Program.
GSA establishes these long-term governmentwide contracts with vendors to offer access to millions of commercial products and services at volume discount pricing for government agencies.
These GSA sales contracts are awarded to vendors for a five year period, with three options to renew (each for an additional five years). After all these renewal options have been exhausted, you have to apply for a new GSA contract.
Once awarded, federal government entities can purchase from your company through the GSA eBuy system at special lower pricing your company offers on this contract.
GSA and Cohub
Cohub will automatically calculate and track sales on your company's GSA contract, but only if the GSA pricing is enabled on both the GSA customer AND the product they are purchasing at the special government price.
Part of maintaining a GSA contract is monthly/quarterly sales reporting and payment of the Industrial Funding Fee (IFF) per your contract agreement. The IFF is a contract management fee which must be paid back to GSA by the contractor. This payment amount is a contract-defined percentage of all sales made under your GSA Schedule during this period of time. The Industrial Funding Fee is used to support the GSA branch that manages all GSA Schedules.
Cohub provides a GSA Sales Report in the system that shows you your company's total GSA sales for any user-defined period of time (again, only for orders where both the product and the customer are designated as GSA eligible). This report makes it easy to calculate and enter these sales totals in the Federal Acquisition Service (FAS) Sales Reporting System to calculate your IFF payment.