Set-aside

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Set-aside

A percentage of a municipal or corporate bond underwriting that is allocated for handling by a minority-owned broker/dealer firm.

Set-Aside

The portion of a contract that is guaranteed to go to a minority owned company. For example, suppose a city wishes to contract out its trash collection services to a number of privately-owned companies. It may declare that 20% of the total value of the contract must go to one or more companies owned by a member of a minority group. While this is intended to reduce corruption in (especially local) governments, critics allege that this practice is, itself, subject to abuse. See also: Affirmative action.
References in periodicals archive ?
Army Distributed Learning Education and Training Products: Small business set-aside.
The death of set-asides at the federal, state and local levels would be devastating for many black businesses.
Rhee wrote that GAO misinterpreted the law when it ruled that HUBZone companies should take priority over all others in set-aside contracts.
The set-aside program is part of the bill to spend $173 billion on highway construction and repair over the next six years.
Meanwhile, the Los Angeles County Metropolitan Transit Authority's minority contracting set-aside program was recently overturned in Los Angeles Superior Court.
Targeted most avidly are government-funded minority set-aside contracts, such as those of the FCC's Minority Tax Certificate Program and those in the U.
Ruling on a protest by Mission Critical Solutions of Tampa, FL, GAO told the Army it should have considered a HUBZone set-aside for a follow-on contract for IT support even though the work had previously been set aside for an 8(a) firm.
The officials added that the three-year moratorium on set-aside programs, which have proved to be the most hotly debated type of affirmative action, would include such stringent conditions for reintroducing the programs that it was doubtful they would ever return.
Opportunities on the local government level dwindled when the Court threw out municipal set-asides there.
Health Advocates is a leading provider of Medicare set-aside cost containment services to insurance payors primarily within the workers' compensation industry.
In deciding a bid protest last fall, GAO said HUBZone firms are legally entitled to priority in set-asides over SDVs because of the wording of the laws establishing the two programs.
Advocates for set-asides expect the stiffest resistance to increased SDB involvement to come from the major prime contractors that build the ships, tanks, missiles, rockets, jet fighters, radar systems--the hardware that makes up our complex network of national defense.