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What is the difference between a synopsis and a solicitation? And what does an amendment or a modification mean?

April 26, 2017Amendment mean modification Solicitation synopsis

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What is the difference between a synopsis and a solicitation? And what does an amendment or a modification mean?

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A synopsis (also called a pre-solicitation) is a notice that a solicitation may soon be issued. Government buyers are required to publicly post a synopsis for any potential solicitation over $25,000 which are posted on http://www.fedbizopps.gov. All actions posted on the NBC Business Opportunities web site seamlessly link to GSA’s FedBizOpps website. A modification is a formal update to a synopsis. The next step is a solicitation. Once a solicitation is issued, the opportunity is open for bids/proposals within the specified response period. If there was a synopsis, the solicitation will use the same reference number. A solicitation can be for any amount of money over $2,500. An amendment is a formal update to a solicitation.