Competition In Contracting Act - CICA

A policy established in 1984 to encourage competition for government contracts. The idea behind the policy is that the increased competition will result in improved savings to the government through more competitive pricing. The Act applies to all solicitations for bids issued after April 1, 1985.

The CICA provides for full and open competition in the awarding of government contracts. The procedure includes sealed bidding and competitive proposals. CICA mandates that any contract expected to be greater than $25,000 must be advertised at least 15 days prior to bid solicitation. This advertising is intended to increase the number of bidders competing for government contracts, thereby allowing for full and open competition. CICA required the government to follow these procedures with limited exceptions; any departure from CICA must be documented and approved by the appropriate government official.

Investment dictionary. . 2012.

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