How do I extend my contract?
Your GSA contract is a 20 year contract split into four terms of 5 years each. At the end of each 5 year term, you will be expected to submit a contract extension package which GSA will approve if it is determined that exercising the option to extend is advantageous to the Government. The decision to extend your contract is largely based on the following three criteria:
- Performance has been acceptable under the contract, meaning that you’ve paid your IFF on time and have been in compliance with all contract clauses and regulations.
- Your GSA pricelist has been received, approved, posted, and kept current on GSA Advantage!
- Sales on your GSA contract during the first two years have met or exceeded $25,000 and sales during the first five years have met or exceeded $100,000.