HUBZone Contract Law and Legal Definition

According to 48 CFR 2.101[Title 48. Federal Acquisition Regulations System; Chapter 1. Federal Acquisition Regulation; Subchapter A. General; Part 2. Definitions Of Words And Terms; Subpart 2.1. Definitions], HUBZone Contract means a contract awarded to a "HUBZone small business" concern through any of the following procurement methods:

(1) A sole source award to a HUBZone small business concern.

(2) Set-aside awards based on competition restricted to HUBZone small business concerns.

(3) Awards to HUBZone small business concerns through full and open competition after a price evaluation preference in favor of HUBZone small business concerns.