MWBEs have a unique opportunity to increase procurement opportunities by forming agreements between and among legal entities. Contractors who form the agreements outlined below as part of a winning strategy open themselves and their companies to various levels of expertise plus increases in capacity and market share.
Teaming Agreements
Teaming Agreements are commonplace in government contracts. Contractors generally sign teaming agreements to formalize their partnership when pursuing a government contract. If a contract is given to the lead contractor, the parties are expected to undertake the job on mutually agreeable terms.
Joint Venture Agreements
A small business can form a partnership with a larger company to seek procurement opportunities as a joint venture. Contracts can then be awarded to the joint venture over a particular timeframe.
All Small Mentor-Protégé Agreements
The SBA All Small Mentor-Protégé Program has been designed to help small protégé enterprises compete for government contracts by providing technical support and increased capacity from the mentor firm.
Note: The 8(a) Mentor-Protégé Program has been merged with the All Small Mentor-Protégé Program.
The NYC Department of Small Business Services PTAC’s upcoming webinar, Contract Management-Prime & Subcontractor Relationships, is designed to delve deeper into these agreements and teach you the ins and outs of negotiating and managing partnerships.
The webinar will also be covering:
- Strategies for Maintaining Vendor Relations
- Strategies for Managing Subcontractor Payments
- Remedies for Addressing Contractual Issues
Be sure to book ASAP to guarantee your spot. We will send you the WebEx Link 24 hours before the start of the event, so be sure to keep an eye on your Junk Mail folder, just in case it lands there by accident!
