Government-Wide Acquisition Contract - GWAC

Dictionary Says

Definition of 'Government-Wide Acquisition Contract - GWAC'


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 of new technology, such as computers. A government-wide acquisition contract consolidates purchases as opposed to having each agency enter into an individual contract. This type of contract may be spearheaded by one particular agency with the expectation that more agencies will follow suit.
Investopedia Says

Investopedia explains 'Government-Wide Acquisition Contract - GWAC'


The rise of government-wide acquisition contracts has allowed government agencies to take advantage of their size in order to negotiate lower prices, and has created an environment in which a single vendor will provide product and service support to a larger number of personnel. By having one agency evaluate a vendor and move forward with an acquisition while leaving the contract open to additional government agencies, the federal government could reduce the likelihood that other agencies will have to "reinvent the wheel" by undertaking their own vetting process.
comments powered by Disqus
Hot Definitions
  1. Closed-End Fund

    A closed-end fund is a publicly traded investment company that raises a fixed amount of capital through an initial public offering (IPO). The fund is then structured, listed and traded like a stock on a stock exchange.
  2. Payday Loan

    A type of short-term borrowing where an individual borrows a small amount at a very high rate of interest. The borrower typically writes a post-dated personal check in the amount they wish to borrow plus a fee in exchange for cash.
  3. Securitization

    The process through which an issuer creates a financial instrument by combining other financial assets and then marketing different tiers of the repackaged instruments to investors.
  4. Economic Forecasting

    The process of attempting to predict the future condition of the economy. This involves the use of statistical models utilizing variables sometimes called indicators.
  5. Chicago Mercantile Exchange - CME

    The world's second-largest exchange for futures and options on futures and the largest in the U.S. Trading involves mostly futures on interest rates, currency, equities, stock indices and agricultural products.
  6. Private Equity

    Equity capital that is not quoted on a public exchange. Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity.
Trading Center