CAGE codes play a significant role in the government contracts and they influence the dynamics of government contract to a large extent. They are absolutely crucial for government contracts mostly if you are registering your items in the IUID registry. Yet, quite a few people are not conversant with the CAGE code concept. These days, CAGE code has huge importance in the government contracts. It was essentially designed and developed by the Department of Defense and now being expansively used in the NASA, Department of Transportation sectors and also by a number of other federal government agencies. Also referred to as Commercial and Government Entity, CAGE Code is a 5 character identity number which identifies the government contractors. If you are a government contractor and want to conduct business activities with Federal Government, you ought to have the knowledge about the CAGE codes and numbers, NAIC codes and some other government codes.
Procedure to get CAGE Codes
Out of all the ideal processes imperative for acquiring a CAGE code, Department of Defense (DoD)s central contractor registration completion procedure is of enormous importance. A Data Universal Numbering System also famous as DUNS number is required to apply for a CAGE code. Completion of CAGE code form not only gives you a CAGE code but will also help you as a part of the distinguished panel of federal government contractors. The primary objective behind creating the CRR (Central Contractor Registration) was to make the DoDs government contractor registration process simpler by allowing government contractors to complete only a single uniform form instead of a bunch of forms at each and every government procurement office. Thus, CAGE codes simplify conducting business with the federal government and allow you to concentrate on winning federal government contracts.
Benifits of CAGE Codes
As per a statistical report, the Government of Defense spends about 75% of every federal government contracting dollar and has its own government contractor classification system as well. Knowledge of these government codes will help you determine where your company fits into the federal government classification systems. Likewise, it is very important to define your business as per the governments terms as that will help you while submitting for government bids and proposals, sign up for buyer-vendor matching services, and spot potential buyers for your products and services. To sum up, CAGE Codes are crucial for any contractor who wishes to win the federal government contracts.