Other transaction authority also known as OTA allows the government agencies and department of defense to get into other transaction agreements that allow industries to engage in research and production projects. These other transactions that the government agencies are able to enter into because of OTA are to meant to empower the government with the latest technology in the market. Other transaction agreements that are allowed by OTA are a way of ensuring the government stays abreast with the innovations by eliminating the statutes. Discussed below is everything you should know about other transactions and how it works.
By finding a way around the government’s procurement statutes, other transactions offer speed, flexibility, and accessibility in performing research and prototype activities. If you have been thinking of applying for an OTA award, you will be glad to learn that your chances of receiving it are magnified provided you haven’t performed any contract subject to full coverage under cost account standards; you must be a non-traditional defense contractor. The OTA award is not only limited to non-traditional defense contractors but institutions that partner with non-traditional defense contractors, those that can justify their use of the OTA to further the purposes of the federal government, as well as those that are providing financial cost-sharing.
Due to government regulations, most research institutions are usually unable to compete within the government sector, a problem that is solved by OTAs, the same way it does in the prototype as well as production processes. One compensation type suitable for an OTA is cost-reimbursement OTA where an organization is paid back every dollar they spent on a project for the government. In case your firm is handling minor research and development for the federal government with a high level of confidence, that is listed under firm-fixed-price OTAs, and they are not as common as cost-reimbursement OTAs.
If you have been wondering about the solicitations methods, you will be glad to know that OTAs can only be solicited through either request for prototype proposals or request for the white paper, highlighting all the factors that may impact the OTA award. When it comes to OTAs, there is not a single stage during the application or submission step for an OTA request that you will deal with the government because they outsource these services through consortium management firms.
You can get an OTAs award in as little as two months because these firms reduce the otherwise lengthy process that could have required you to wait for hours. Since this might be a relatively new concept or field to you, you will get all the help you need from an experienced officer. Now you are familiar with OTA proposals and how they work.