government contracting finance question
by nebuchadnezzar, Window Shopper
- Created: August 27, 2009, 12:30 am
I am researching information for a disabled veterean who is starting his company and I wanted to know if you can assist me with some advice. I would like to find out what would be required financially for this gentleman's company to bid on a contract. For example: If the contract calls for ordering 5million valves and we don't have the money to pay the company for the valves until we get paid by the govn't, do we have to get a BOND to get the money upfront for the supplier, or will they just supply the valves and wait to get paid when we get paid by the govn't. How will we logistically do this? What does the Federal govn't require from his company? Does the federal govn't require that his company have $750,000 in assets before he can bid on a $1Million contract?
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