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What is a HUBZone Contract? A Comprehensive Legal Overview
Definition & Meaning
A HUBZone contract is a type of government contract awarded specifically to small businesses located in Historically Underutilized Business Zones (HUBZones). These contracts can be awarded through various procurement methods, including:
Sole source awards, where the contract is given directly to a HUBZone small business without competition.
Set-aside awards, which restrict competition to HUBZone small businesses only.
Awards through full and open competition, where HUBZone small businesses receive a price evaluation preference.
Table of content
Legal Use & context
HUBZone contracts are utilized primarily in federal procurement processes to promote economic development in designated areas. This term is relevant in the context of federal acquisition regulations and small business administration practices. Legal practitioners may encounter HUBZone contracts in various fields, including government contracting and public procurement. Users can manage certain aspects of HUBZone contracts using legal templates from US Legal Forms, which are drafted by qualified attorneys.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A HUBZone small business specializing in construction is awarded a sole source contract to build a federal facility, as they are the only qualified bidder in the area.
Example 2: A technology firm located in a HUBZone competes against other HUBZone businesses for a set-aside contract to provide software solutions to a government agency. (hypothetical example)
Relevant laws & statutes
The primary regulation governing HUBZone contracts is found in the Federal Acquisition Regulation (FAR), specifically 48 CFR 2.101. This regulation outlines the definitions and requirements for HUBZone contracts.
Comparison with related terms
Term
Definition
Key Differences
Small Business Contract
A contract awarded to a small business without HUBZone designation.
HUBZone contracts specifically target businesses in designated areas.
Set-Aside Contract
A contract reserved for specific types of businesses, including HUBZone.
Set-aside contracts can include various types of small businesses, not just HUBZone.
Common misunderstandings
What to do if this term applies to you
If you believe your business qualifies for HUBZone contracts, you should:
Verify your HUBZone eligibility through the SBA.
Consider applying for HUBZone certification.
Explore US Legal Forms for templates that can assist with the application process.
If you encounter complexities, consulting with a legal professional may be beneficial.
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