NAICS is the new term for the Standard Industrial Classification (SIC) system. It classifies establishments according to how they conduct their economic activity. Improved to accurately identify industries. Effective October 1, 2000. Can be found in the FAR 19.
NAICS code rundown:

• Look at dollar amounts and employee size for that NAICS Category.
• SUPPLIES: Look at dollar amounts for an average for the last 3 years.
• SERVICES/MANUFACTURING: Look at number of employees for the past 12 months

What are Other Direct Costs (ODCs)?

ODC's are the costs of facilities, supplies and services provided by the contractor in support of task order performance, that would normally be provided by the government.

What Are Contract Amendments?

Contract Admendments are a change to the contract terms, including changes in scope, period of performance, key personnel, cost, and billing rates.

What is a Procurement?

A Procurement is a term used for the solicitation of a competitive bid.

What is a Purchase Order (PO)?

A purchase order and SOW serve as the binding documents which the contractor will work under.

What is a Statement of Work (SOW)?

The SOW is a document which contains the description of the desired services/products and their characteristics, constraints, timeframes, etc.

What is a Work Authorization?

A Work Authorization is a signed agreement allowing the contractor to proceed with the tasks/products described in a work order. Sometimes used interchangeably with "work order".

What is a Work Order (WO)?

A Work Order is a formal notice of tasking; usually used to clarify specific detailed activities and/or deliverables for a contract where the period of performance and dollar amount are fixed, but the scope of work is set at a high-level (such as for a maintenance and operations contract). Should describe deliverables (interim as well as final), evaluation criteria, and all applicable requirements.

What is a Certified 8(a) Firm?

A Certified 8(a) firm is a firm owned and operated by socially and economically disadvantaged individuals and eligible to receive federal contracts under the Small Business Administration’s 8(a) Business Development Program.

What is a Contract?

A contract is a  mutually binding legal relationship obligating the seller to furnish supplies or services (including construction) and the buyer to pay for them.

What is a Contracting Officer?

A Contracting Officer is a  person with the authority to enter into, administer, and/or terminate contracts and make related determinations and findings.

What is a Contractor Team Arrangement?

A Contractor Team Arrangement is an arrangement in which (a) two or more companies form a partnership or joint venture to act as potential prime contractor; or (b) an agreement by a potential prime contractor with one or more other companies to have them act as its subcontractors under a specified government contract or acquisition program.

What is the Federal Acquisition Regulation (FAR)?

The FAR is a body of regulations which is the primary source of authority governing the government procurement process. The FAR, which is published as Chapter 1 of Title 48 of the Code of Federal Regulations, is prepared, issued, and maintained under the joint auspices of the Secretary of Defense, the Administrator of General Services Administration, and the Administrator of the National Aeronautics and Space Administration. Actual responsibility for maintenance and revision of the FAR is vested jointly in the Defense Acquisition Regulatory Council (DARC) and the Civilian Agency Acquisition Council (CAAC).

What is Full and Open Competition?

With respect to a contract action, "full and open" competition means that all responsible sources are permitted to compete.

What is a Joint Venture?

A Joint Venture in the SBA Mentor-Protégé Program, is an agreement between a certified 8(a) firm and a mentor firm to perform a specific federal contract.

What is a Mentor?

A Mentor is a business, usually large, or other organization that has created a specialized program to advance strategic relationships with small businesses.

What is Partnering?

Partnering is a mutually beneficial business-to-business relationship based on trust and commitment and that enhances the capabilities of both parties.

What is a Protégé?

A Protégé is a firm in a developmental stage that aspires to increasing its capabilities through a mutually beneficial business-to-business relationship.

What is a Request for Proposal (RFP)?

An RFP is a document outlining a government agency’s requirements and the criteria for the evaluation of offers.

What is a Standard Industrial Classification (SIC) Code?

A SIC code is a code representing a category within the Standard Industrial Classification System administered by the Statistical Policy Division of the U.S. Office of Management and Budget. The system was established to classify all industries in the US economy. A two-digit code designates each major industry group, which is coupled with a second two-digit code representing subcategories.

What is a Subcontract?

A subcontract is a contract between a prime contractor and a subcontractor to furnish supplies or services for the performance of a prime contract or subcontract.

What is an ID/IQ contract?

An ID/IQ contract is a contract between a federal government agency and a contractor for the indefinite delivery of an indefinite quantity of services. Timing and delivery of the services is determined through agency completion of an individual task order or individual delivery orders. A single ID/IQ contract may be used by a number of federal organizations.

What is a cost proposal?

The cost proposal includes a broad scope of activity, including staffing, labor hours and labor categories, direct costs, timetable, government-furnished property and equipment, security clearances, warranties and other types of information related to performance on the project. Proposals can be presented in written form, orally, or both, depending on the task.

What is a BPA?

Blanket Purchase Agreements (BPAs) are a simplified method of filling anticipated repetitive needs for services and supplies.  They are "charge accounts" established with Schedule contractors by ordering agencies.  BPAs are an easy ordering tool.