NIC Secures New Contracts in Florida and Iowa for Payment Processing and Digital Government Solutions

Digital government solutions firm NIC Inc. has won new multi-year contracts with the states of Florida and Iowa following competitive bid processes.

“We are excited by the confidence Florida and Iowa have placed in NIC solutions as we continue to expand our payment processing and digital government services across the country,” said Harry Herington, NIC CEO and Chairman of the Board. “These wins further reinforce the momentum NIC has experienced in 2020.”

In Florida, NIC has been awarded a contract to provide transaction-funded payment processing services for all state agencies. The five-year transaction-funded contract, which may be extended by up to five additional years, also provides the ability for cities and municipalities to work with NIC for payment processing services, promoting a comprehensive and seamless financial transaction experience for Florida citizens and businesses.

For its fiscal year ended June 2018, the state of Florida processed 74 million transactions for a

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How Two Young Entrepreneurs Pushed Their Way Into Government Contracts

When Covid-19 hit, Aspetto cofounder and CEO Abbas Haider, like lots of small-business owners, was nervous that business would fall. After all, the biggest buyers for his company’s bullet-resistant clothes and tactical gear were federal agencies, which he figured would be focused elsewhere. “We thought a lot of the funding from defense contracts was going to go to PPE,” he says. “We thought business was going to hurt during Covid.”

Instead, Fredericksburg, Virginia-based Aspetto’s business boomed. It now expects revenue to reach $12.5 million this year, up from less than $2 million in 2019, when he company hit a rough spot. Haider and his cofounder Robert Davis, both 30, are already beginning to line up contracts for 2021 (they say they have $14 million worth secured now), when they expect revenue to surpass $25 million. Since the beginning of

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Finding and Bidding on State and Local Government Contracts and RFPs

State and local government bids and RFPs are notoriously difficult to locate. Unlike the federal government, which conducts most purchasing through GSA schedules or FedBizOpps.gov, state and local bids are located in a great number of sources throughout the internet — on government webpages, public works pages, 3rd party contracted websites, and newspaper classifieds.

To locate these bids, you may want to keep an eye on newspaper classifieds or the websites of specific government entities near you. If your business operates only in North Dakota, this is easy and takes less than an hour a day. However, if your business operates in a larger state, across multiple states, or if you don’t have an hour per day to spend, a service like BidPrime.com is a cost and time-effective solution to reduce the burden of locating these valuable and often overlooked opportunities.

So I’ve identified a qualified lead, but what now? … Read More

Startup Law 101 Series – Mistakes Founders Make – Misusing Form Contracts

Ours is an era in which legal forms proliferate and many entrepreneurs are tempted to use them without much thought given to customizing them for the specifics of their deal.

This is a mistake.

The unthinking use of legal templates assumes that the law is a mechanical process, as capable of simplification as is the process of selling widgets. The thinking goes something like this: You find a widget on the web. You buy it for a cheap price. You use it. Hence, no need for those middlemen lawyers who charge a lot for pulling the identical widget out of their drawer and handing it to you with their bill.

There are some partial truths here. Some contract situations are utterly routine. And lawyers sometimes have abused entrepreneurs by keeping them in the dark while running up billings in simple situations. It does not follow, however, that contracts are merely … Read More

Accounting for Government Contracts – Fringe, Overhead and G&A

If you are planning to have the U.S. Government as a client, you will need to have your accounting systems set up so you can handle their accounting requirements. Regardless of whether you are engaging in a plain vanilla contract or an SBIR grant, you will be required to negotiate fringe benefit rates, overhead rates, and general and administrative rates.

Fringe benefits rates include

  • Compensated Absences, such as Vacation, Holidays, and Sick Leave;
  • Medical Programs, such as Health and Dental Insurance;
  • Retirement, such as the Defined Contribution Portion of your Retirement Plan and Plan Service Fees;
  • Long-term Disability Coverage;
  • Worker’s Compensation Coverage; and
  • Employee Wellness, such as Fitness Club Membership and Other Wellness Programs

Overhead covers direct and indirect support of the employees whose time is being billed to the Government. This includes items like

  • Rent (only for the space that those employees use);
  • Depreciation of their furniture and equipment;
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FAR Overhead Rate Calculation and FAR 31 Audits for Government Contracts

Which FAR obligations are put forward by government agencies in the contract?

In their contract Government can impose varied obligations as per established by FAR. Thus these agencies can be either demanding contract bids or can even insist upon the firm’s overhead rate in accordance with FAR. In addition, it can be the company’s schedule for audited overhead or parallel footnotes; which they will look out for.

What are the pre-requirements for FAR Overhead Rate Calculation?

Accounting software:

While numerous firms find government contracts desirable; what they oversee is the information they are obligated to produce during FAR audits. They even miss out on having a proper report of the contract and the cost that is involved. It is thus essential for a firm to own a submissive system to manage the accounting per se. It can be time-consuming and quite a struggle in the beginning but proves beneficial for … Read More

What Is FPDS and 3 Ways It Can Help You Win Government Contracts

What is FPDS?

The Federal Procurement Data System – Next Generation or FPDS is a government website that gives unprecedented real-time access to government spending patterns. The system is free to access and only requires you to create an account. The beauty of a system like this is that it allows contractors to look at past contract actions to determine the propensity and viability of doing business with the government. A quick search can tell you if the government is spending money on what you sell, how much they are spending on it, who the top agencies are that are buying what you sell, and who your competition and best teaming partners are.

What gets reported to FPDS?

Government contracts, BPA’s, IDIQ’s, etc. that have an estimated value of $3,000 or more as well as every modification to the contract. Keep this in mind when you are searching the system … Read More

How To Get Government Staffing Contracts

Promoting your automotive to the government is becoming more widespread in a public public sale setting. They want a smaller federal government, with lower taxes and decrease spending, that will concentrate on just a few projects at the national level, and few of which would include social applications. A republican government is run by representatives chosen by the folks, slightly than by the folks themselves.

The effect of this extreme partisanship is that, whereas Democrats and Republicans slug it out, the silent majority of Individuals, reminiscent of Independents, and those drawn to 3rd social gathering candidates, are more and more disenchanted by a political system they see as corrupt and inefficient.

Take for instance that a government doesn’t know how to make good plans on strong anti-corruption group that can help in solving corruption problem in the country, he will continue in selling the follow of corruption in the country … Read More