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The Brooks Act, also known as the Selection of Architects and Engineers statute is a United States federal law passed in 1972 that requires that the U.S. Federal Government select engineering and architecture firms based upon their competency, qualifications and experience rather than by price.
The method described would be to evaluate all possible candidates and narrow them down to the three best choices. Then the selection process would commence negotiations with the firm deemed most qualified. If the State and firm are unable to agree on a fair and equitable price for their services, the State would then cease talks with that firm and move to the firm deemed second most qualified. If the State would be unable to agree with that firm, they would move to the third in a similar fashion. If the State is unable to agree on a price with that firm, they would be required to open up their selection criteria to more firms.
While the intent is for the State to select the firm that is most qualified and should produce the best results as a result of this fact, there remains the potential to still make a selection based upon price. If you cannot reach a "Fair & Reasonable Price" vs. your estimate, you move on to the next best technical proposal.
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A request for proposal (RFP) is a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset, to potential suppliers to submit business proposals. It is submitted early in the procurement cycle, either at the preliminary study, or procurement stage.
A real estate broker, real estate agent or realtor is a person who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. In North America, some brokers and agents are members of the National Association of Realtors (NAR), the largest trade association for the industry. NAR members are obligated by a code of ethics that go above and beyond state legal requirements to work in the best interest of the client. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency, and many states require written disclosures to be signed by all parties outlining the duties and obligations.
The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) is a law passed by the U.S. Congress on a reconciliation basis and signed by President Ronald Reagan that, among other things, mandates an insurance program which gives some employees the ability to continue health insurance coverage after leaving employment. COBRA includes amendments to the Employee Retirement Income Security Act of 1974 (ERISA). The law deals with a great variety of subjects, such as tobacco price supports, railroads, private pension plans, emergency department treatment, disability insurance, and the postal service, but it is perhaps best known for Title X, which amends the Internal Revenue Code and the Public Health Service Act to deny income tax deductions to employers for contributions to a group health plan unless such plan meets certain continuing coverage requirements. The violation for failing to meet those criteria was subsequently changed to an excise tax.
Market value or OMV is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although these terms have distinct definitions in different standards, and may or may not differ in some circumstances.
Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending as "imposing unfair and abusive loan terms on borrowers", though "unfair" and "abusive" were not specifically defined. Though there are laws against some of the specific practices commonly identified as predatory, various federal agencies use the phrase as a catch-all term for many specific illegal activities in the loan industry. Predatory lending should not be confused with predatory mortgage servicing which is mortgage practices described by critics as unfair, deceptive, or fraudulent practices during the loan or mortgage servicing process, post loan origination.
An ad valorem tax is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). An ad valorem tax may also be imposed annually, as in the case of a real or personal property tax, or in connection with another significant event. In some countries a stamp duty is imposed as an ad valorem tax.
Construction management (CM) is a professional service that uses specialized, project management techniques to oversee the planning, design, and construction of a project, from its beginning to its end. The purpose of CM is to control a project's time / delivery, cost and quality—sometimes referred to as a project management triangle or "triple constraints." CM is compatible with all project delivery systems, including design-bid-build, design-build, CM At-Risk and Public Private Partnerships. Professional construction managers may be reserved for lengthy, large-scale, high budget undertakings, called capital projects.
The California special election of 2005 was held on November 8, 2005 after being called by Governor Arnold Schwarzenegger on June 13, 2005.
An insurance broker sells, solicits, or negotiates insurance for compensation.
A financial adviser or financial advisor, is a professional who suggests and renders financial services to clients based on their financial situation. In many countries financial advisors have to complete specific training and hold a license to provide advice. In the United States, a financial adviser carries a Series 7 and Series 65 or Series 66 license. According to the U.S. Financial Industry Regulatory Authority (FINRA), license designations and compliance issues must be reported for public view. FINRA specifies the following groups who may use the term financial advisor: brokers, investment advisers, private bankers, accountants, lawyers, insurance agents and financial planners.
The processes of government procurement in the United States enable federal, state and local government bodies in the United States to acquire goods, services, and interests in real property.
ACASS, or Architect-Engineer Contract Administration Support System, was developed in 1975, in response to The 1972 Brooks Architect-Engineer Act, Public Law 92–582. The Brooks Act requires the public announcement of requirements for A–E services by Federal agencies ; selection of the most highly qualified firms based on demonstrated competence and professional qualifications; and the negotiation of a fair and reasonable price, starting with the highest qualified firm. Hence, the selection of A–E contractors is focused on qualifications, and not the lowest price. ACASS supports procedures defined in Part 36 of the Federal Acquisition Regulations (FAR).
Health insurance in the United States is any program that helps pay for medical expenses, whether through privately purchased insurance, social insurance, or a social welfare program funded by the government. Synonyms for this usage include "health coverage", "health care coverage", and "health benefits". In a more technical sense, the term "health insurance" is used to describe any form of insurance providing protection against the costs of medical services. This usage includes private insurance and social insurance programs such as Medicare, which pools resources and spreads the financial risk associated with major medical expenses across the entire population to protect everyone, as well as social welfare programs like Medicaid and the Children's Health Insurance Program, which both provide assistance to people who cannot afford health coverage.
Qualifications-Based Selection (QBS) is a procurement process established by the United States Congress as a part of the Brooks Act and further developed as a process for public agencies to use for the selection of architectural and engineering services for public construction projects. It is a competitive contract procurement process whereby consulting firms submit qualifications to a procuring entity (owner) who evaluates and selects the most qualified firm, and then negotiates the project scope of work, schedule, budget, and consultant fee.
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the subprime mortgage crisis.
Contract law regulates the obligations established by agreement, whether express or implied, between private parties in the United States. The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law.
The American Council of Engineering Companies (ACEC) is the oldest and largest business association of engineering companies. It is organized as a federation of 52 state and regional councils with national headquarters in Washington, D.C., comprising thousands of engineering practices throughout the country. It administers extensive lobbying and education programs.
Fast-track building construction is construction industry jargon for a project delivery strategy to start construction before the design is complete. The purpose is to shorten the time to completion.
The Minimum Wage Fairness Act is a bill that would amend the Fair Labor Standards Act of 1938 (FLSA) to increase the federal minimum wage for employees to $10.10 per hour over the course of a two-year period. The bill was strongly supported by President Barack Obama and many of the Democratic Senators, but strongly opposed by Republicans in the Senate and House.
The Citizen Equality Act of 2017 is a draft piece of legislation proposed by former 2016 American presidential candidate Lawrence Lessig. The act was the centerpiece of Lessig's campaign platform, encompassing his plans for campaign finance reform, expansion of voting access, and revised districting laws. Lessig had stated that if elected, he would make these reforms the first priority of his presidency. At the start of his campaign, he announced his candidacy as a "referendum," stating that he would step down upon the enactment of the Citizen Equality Act and turn the presidency over to the vice president. In an October 2015 interview on HBO's Real Time with Bill Maher, he retracted this statement and expressed his intention to stay on as president if elected. On November 2, 2015, Lessig ended his bid for the presidency, citing changes in Democratic Party rules that excluded him from the stage during televised debates.