What Foreign Companies Need to Know About Doing Business With the U S Government globalatlanta.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globalatlanta.com Daily Mail and Mail on Sunday newspapers.
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Government contractors currently access the U.S. General Services Administration’s System for Award Management (referred to in the industry as “SAM”) for only a few fundamental tasks:
Register to do business with the U.S. government;
Update or renew their entity registration;
Check the status of an entity registration; or
Search for entity registration and exclusion records.
But, on May 24, 2021, GSA will update the SAM site to a “modernized environment.”
The new SAM.gov promises to be much more than a registration system; it will be updated to incorporate customer-focused functionality. Changes that SAM.gov users can expect after May 24, 2021, include but are not limited to:
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On March 11, 2021, President Biden signed the American Rescue Plan of 2021. This legislation includes a Restaurant Revitalization Fund (“RRF”) for which Congress has allocated $28.6 billion in program grants for eligible entities. The amount of any grant is limited to the eligible entity’s “pandemic-related revenue loss” (defined below) and reduced by any amounts received (whether or not forgiven) from any Paycheck Protection Program loan. The aggregate amount of grants made to any eligible entity and its affiliates is capped at $10 million and $5 million per physical location of the entity.