Alphabet Soup: E is For…Economic Price Adjustment


ECP Engineering Change Proposal

The Contracting Officer may ask the contractor to prepare engineering change proposals that are within the scope of a contract.  The Contractor may also initiate engineering change proposals.   

EDI Electronic Data Interchange

Computer-to-Computer system used to send and receive orders, invoices and payments

EFT Electronic Funds Transfer

Allows payment of invoices to bank account listed in your SAM registration

EPA Economic Price Adjustment

Allows for modifications to pricing in your GSA contract.  Prices must reflect those offered to your Most Favored Customer (MFC) in the commercial marketplace and your Basis of Award (BOA) customer identified during negotiations with GSA.  The amount and timing of any price increases are stated in the terms of your contract (see MFC, BOA and GSA)

EPLS  Excluded Parties List System

Companies excluded from receiving government contracts.

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