The term SAM stands for System of Award Management. In simple words, it is an official website of the U.S. Government that serves as a portal. The online platform consolidates the capabilities of numerous information and system sources used by the federal government for financial assistance and acquisition.
As most of us know that a company is a type of entity. Business owners or founders of the companies register their entity to do business with the U.S Federal government. For this reason, they go through the registration process in SAM. The registration fee for SAM.GOV is completely free. There is also no maintenance fee for SAM registration. There are some requirements that businesses need to fulfill to register for SAM.
As a result, entities or companies that want to do business with the federal government get benefitted from SAM registration.
If you want to acquire federal clients for your business then you need to register with SAM. You will need to meet certain specific SAM registration requirements. Also, make sure that you are aware to renew SAM registration from time to time. Remember SAM registration costs zero, so grab the opportunity.
Business entities in the U.S. are looking forward to receive federal funds from the U.S. government contracting opportunities by becoming officially certified vendors to the government.
With the directories, SAM registration incorporates government contractor information into a single system. Contractors and vendors get listed in these directories of the online platform to search for contracting opportunities from one location. The contractors put information only one time and that reduces the risk of duplicating.
Let’s find out the values that businesses get from SAM registration.
Vendors and contractors are able to have business relationships with the federal government with SAM being the main database. The federal agencies search for different kinds of supplies in this online portal. Successful vendors and contractors are prioritized more as they have vast experience and covered all the eligibility criteria. SAM is also beneficial to the small businesses because they get federal opportunities as well by getting listed out there. It is possible because the platform has become an online federal marketplace. For that reason, it drives federal agencies to a variety of options listed on the site. This creates multiple federal opportunities that roam around federal businesses.
Business owners or founders of companies certify themselves to show that their entities carry valid and accurate business information. Along with the process of ‘self-certifying’, they also need to complete the solicitation clauses that are related to the organization’s socioeconomic characteristics and size. Apart from these certification processes, obtaining certificates benefits businesses in multiple ways to make a place in the federal market. Therefore, take a step forward to register with SAM and get certified.
The capabilities of a business lie in its location, track record, size, and ownership. All of this information is searchable on the website of SAM. Small Business Association indicated that it helps small businesses to showcase their essential information to get federal clients to them. In a way, it helps businesses to market their entities and product line to the federal government. The government, contractors, and federal agencies get to learn about other listed businesses. For this beneficial factor business owners register for SAM.
Navigate the federal contracting maze and define a targeted government marketing plan. By screening the site one can determine the right individual to contact, essential statements to deliver, and important information or files to send them.
These three major beneficial factors create high possibilities to fetch federal contracts so wait no more and fulfill the SAM registration requirements and register for SAM.
The federal government of the U.S. needs products and services from about every industry to get resources. From purchasing massive things to small items almost everything is needed at some point. In order to do business with the federal government, businesses must have an active SAM registration. Some reasons are explained below:
Companies need to register with SAM and obtain a SAM number to bid on government contracts. They can register either as a prime contractor or a subcontractor. The SAM number is also known as a Commercial & Government Entity code. The registered companies are assigned the CAGE code. The code is an ID number that consists of five-character assigned by the Department of Defense’s Defense Logistic Agency, in short DLA. The SAM number is used for providing a standardized method of identifying a given facility at a specific location. It is also used for facility clearance and pre-award surveys.
Foreign businesses need to obtain an NCAGE code before they register with SAM. Before beginning the process, it is important to gather some information. First and foremost companies need to apply for receiving a DUNS number. The term DUNS stands for Data Universal Numbering System. It takes a couple of business days to get the DUNS number after filling out the application. The complete legal name should be the same as the DUNS and SAM.
Locate the Employer Identification Number. Bank’s routing number and bank account number are also needed for getting paid through the SAM system.
Every entity must have an Entity Administrator. Companies need to send a notarized letter listing the Entity Administrator to the government. After finishing all of these task company are headed toward the SAM registration process. The SAM registration process is pretty lengthy and complex. Some companies hire an accountant to handle the process because it is better to let a SAM expert work on the SAM registration.
It takes about 45 minutes to fill out the SAM registration information. It can take about seven weeks for getting approval for SAM registration. Getting the EIN or TIN number can take about five weeks by itself. Once a company receives the identifier, the approval of the SAM registration should take no longer than just 14 days.
There is no fee to register and maintain SAM registration. If you get a message or an email or a phone call from any company, asking you to contact them or asking for money then be cautious. There is no fee to register as a government contractor.
SAM registration is free of charge but the following tips can help you streamline the SAM registration process.
Registering is not a one-time affair. Each year SAM registration renewal is needed. There are three key points that a company needs to remember for the SAM registration renewal process.
The steps for SAM registration renewal are given below in bulletins.
The SAM registration needs renewal every 12 months.
It has been precisely observed that the SAM enrolment is the first initial step to do business with the federal government. You can surely try your hand to make out the process of SAM registration but with Fedvital, you just need to put your details and the rest is on us.
So wait no more and get proper guidance as well as professional assistance from Fedvital to get registered on SAM.