Small Disadvantaged Business Concern Law and Legal Definition
Small disadvantaged business concern for general statistical purposes and for joint ventures under the price evaluation adjustment for small disadvantaged business concerns), means an offeror that represents, as part of its offer, that it is a small business under the size standard applicable to the acquisition; and either --
(1) It has received certification as a small disadvantaged business concern consistent with 13 CFR part 124, subpart B; and
(i) No material change in disadvantaged ownership and control has occurred since its certification;
(ii) Where the concern is owned by one or more disadvantaged individuals, the net worth of each individual upon whom the certification is based does not exceed $ 750,000 after taking into account the applicable exclusions set forth at 13 CFR 124.104(c)(2); and
(iii) It is identified, on the date of its representation, as a certified small disadvantaged business concern in the data base maintained by the Small Business Administration (PRO-Net); or
(2) For a prime contractor, it has submitted a completed application to the Small Business Administration or a private certifier to be certified as a small disadvantaged business concern in accordance with 13 CFR part 124, subpart B, and a decision on that application is pending, and that no material change in disadvantaged ownership and control has occurred since it submitted its application. In this case, a contractor must receive certification as a small disadvantaged business by the Small Business Administration prior to contract award.” (48 CFR 2.101)
Legal Definition list
Related Legal Terms
- Affected Item of Business
- Affidavit of Small Estate
- Affiliated Business Arrangement
- Agribusiness
- Alternative Fuels Business
- Awarding Agency [Business Credit and Assistance]
- Base Closure Area [Small Business Administration]
- Better Business Bureaus
- Bill of Sale (Business)
- Branch or Additional Business Facility [Agricultural Marketing Service]
