By Celeste Osborne US Federal Contractor Registration has further leveled the playing field for small business federal contractors through their new Simplified Acquisition Program. This cutting edge training system provides vendors with all the knowledge, tools, and support necessary to compete for federal contract awards. The rules governing federal contracting, known as the Federal Acquisition Regulations or FAR, have set the simplified acquisition threshold between $2,500 and $150,000 for most transactions, however this may increase to up to $6.5 million depending upon the industry. Any contract valued within this threshold does not need to undergo a formal bidding process and may be subject to the "rule of 2" - where a purchasing officer need only call and obtain quotes from two eligible small businesses before awarding the contract. These kinds of contracts open up increased opportunities for inexperienced vendors and set-asides, including women- and veteran-ow...