SCHEDULE 70 DESCRIPTION IT Schedule 70 is a long-term contract issued by the U.S. General Services Administration (GSA) to a commercial technology vendor. Award of a Schedule contract signifies that the GSA has determined that the vendor's pricing is fair and reasonable and the vendor is in compliance with all applicable laws and regulations.
Purchasing from pre- approved vendors allows agencies to cut through red tape and receive goods and services faster. A vendor doesn't need to win a GSA Schedule contract in order to do business with U.S. government agencies, but having a Schedule contract can cut down on administrative costs, both for the vendor and for the agency. Federal agencies typically submit requests to three vendors on a Schedule and choose the vendor that offers the best value.
Vendors must undergo a rigorous application process, including the negotiation of fair and reasonable prices, to win a GSA Schedule contract. IT Schedule 70 is one of 62 GSA Schedules under which a vendor can apply for a contract. It is the GSA's largest Schedule. Contracts can be renewed three times, which means the vendor could potentially have a 20-year contract. According to Fedmarket.com, large federal contractors can have GSA Schedule sales exceeding $100 million annually.