Acquisition & Contracting
What Does LPTA Stand For?
Lowest Price Technically Acceptable
Definition
An evaluation method where the contract goes to the lowest bidder who meets all technical requirements.
Related Acronyms in Acquisition & Contracting
RFPRequest for ProposalRFQRequest for QuotationRFIRequest for InformationSOWStatement of WorkPWSPerformance Work StatementSOOStatement of ObjectivesIDIQIndefinite Delivery/Indefinite QuantityBPABlanket Purchase AgreementGWACGovernment-Wide Acquisition ContractMACMultiple Award ContractFFPFirm Fixed PriceCPFFCost Plus Fixed FeeT&MTime and MaterialsCOContracting OfficerCORContracting Officer RepresentativeKOContracting Officer (alternate)COTRContracting Officer Technical RepresentativeMASMultiple Award ScheduleOASISOne Acquisition Solution for Integrated ServicesSEWPSolutions for Enterprise-Wide Procurement
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